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Math Help - compund interest check

  1. #1
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    compund interest check

    I have 19,000 put it in an account that pays 7.75 % interest compunded quarterly how much will my money be in 7 years?

    I used this formula

    A= P (1 + (r/h) )^4t

    19000[1+(7.75/4)]^4t

    19000(2.94)^4t

    calced it got 1564080? right
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  2. #2
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    Wow! I hope not.

    Try 7.75% = 0.075 and give it another go.
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  3. #3
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    which do I input in the calc? A or B?
    Attached Thumbnails Attached Thumbnails compund interest check-input.jpg  
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  4. #4
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    Guessing is a hard business. You seem not to know that t = 7.

    Please avoid unnecessary rounding. 0.0775/4 = 0.019375 NOT whatever you have written in "B".
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  5. #5
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    graphinc calculator help

    when i type 0.0775/4 on my graphing calculator I get .02 ?!

    when i graph it on a regular calulator I got what you got

    I pressed mode on my Ti83 plus calculator and Under FLOAT its on 2 is it suppose to be somewhere else? 0 maybe?
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  6. #6
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    yeah got it now

    7 years 542307.5
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