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Math Help - calculating interest

  1. #1
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    calculating interest

    A = P(1+ i/n)^(nt)
    Compound Interest Formula
    P = principal amount (the initial amount you borrow or deposit)
    i = annual rate of interest (as a decimal)
    t = number of years the amount is deposited or borrowed for.
    A = amount of money accumulated after n years, including interest.
    n = number of times the interest is compounded per year

    Using this formula I want to create a table of values in the calculator, I have a TI-84 Plus, the information I am given is: creqate a table of values for u(n) the accumulat4d value at the end of the nth year of $100 at 6% per annum compounded monthly. First I press MODE and select FUNCTION mode
    Press Y= then enter the function for Y1 = 100(1+.06/12)^(x*12) Now press 2ND TABLE to view the table of values

    I have106.17 for the first year and 181.94 for the tenth year, is this correct?
    Thank You,
    Keith Stevens
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  2. #2
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    Quote Originally Posted by kcsteven View Post
    ...
    I have a TI-84 Plus, the information I am given is: creqate a table of values for u(n) the accumulat4d value at the end of the nth year of $100 at 6% per annum compounded monthly. ...

    I have106.17 for the first year and 181.94 for the tenth year, is this correct?
    ...
    Hi, Keith,

    brillant work. Everything is correct.

    EB
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