Bill invests £500 on the 1st Jan 2004 at a compound interest of R% per annum. The value, £V, of this investment after n years is given by the formula V=500x(1.045)^n

Write down the value of R

O-o?????

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- January 6th 2010, 01:23 PMMukilabCompound interest...?
Bill invests £500 on the 1st Jan 2004 at a compound interest of R% per annum. The value, £V, of this investment after n years is given by the formula V=500x(1.045)^n

Write down the value of R

O-o????? - January 6th 2010, 01:26 PMpickslides
This formula usually looks like

therefore your rate is 4.5 - January 6th 2010, 01:28 PMMukilab
- January 6th 2010, 01:32 PMpickslides
- January 6th 2010, 01:39 PMMukilab
Can you go through the actual process?

Ok A=P(1+

So

Let's say n = 2

- January 6th 2010, 01:50 PMpickslides
- January 7th 2010, 08:41 AMMukilab
So I need a value for A? They just say that the value is V.

I'll post the actual question when I find it, although I think it is unnecessary as I have posted all the core parts that I need answering, I am sure I have not missed something out - January 7th 2010, 08:58 AMe^(i*pi)
- January 7th 2010, 09:44 AMMukilab