Getting the wrong answer with this problem.

Find the accumulated value of an account of $800 at 8% compounded monthly for 2 years.

I keep getting the answer $933.12 which is wrong.

Im using the formula A=P(1 + r/t) ^nt

Printable View

- November 30th 2012, 09:46 AMitgl72Compounded monthly
Getting the wrong answer with this problem.

Find the accumulated value of an account of $800 at 8% compounded monthly for 2 years.

I keep getting the answer $933.12 which is wrong.

Im using the formula A=P(1 + r/t) ^nt - November 30th 2012, 09:50 AMScopurRe: Compounded monthly
- November 30th 2012, 01:54 PMebainesRe: Compounded monthly
- November 30th 2012, 02:55 PMHallsofIvyRe: Compounded monthly