Captinblack invested some money at 10% compounded quarterly at the end of three years his investmenthad grown to $2488.05. Find the initial investment. My answer is $1850.00 thanks for checking.

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- Jul 10th 2006, 09:37 AMkwtolleyFind the initial investment?
Captinblack invested some money at 10% compounded quarterly at the end of three years his investmenthad grown to $2488.05. Find the initial investment. My answer is $1850.00 thanks for checking.

- Jul 10th 2006, 11:44 AMRich B.
Greetings Kwtolley:

I have but one word to utter in response to your work here today...__Perfect__! :)

Enjoy,

Rich B. - Jul 10th 2006, 12:22 PMSoroban
Hello, kwtolley!

Quote:

Captain Blackbeard invested some money at 10% compounded quarterly.

At the end of three years his investmenthad grown to $2488.05.

Find the initial investment.

My answer is $1850.00

I assume you used a variation of : .$\displaystyle A\;=\;P\left(1 + \frac{i}{n}\right)^{nt}$

Then: .$\displaystyle P \;=\;\frac{2488.05}{\left(1 + \frac{0.10}{4}\right)^{12}} \;=\;1850.00422 \;\approx\;\$1850$

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It's hard to see your work from here . . .

It looks like you played the $\displaystyle J\heartsuit$ instead of the $\displaystyle 7\clubsuit$.

Then you transposed to the key of $\displaystyle F\sharp\text{ minor}$ instead of $\displaystyle E\flat\text{ major}$.

Lucky for you, the two errors canceled out.

- Jul 11th 2006, 07:59 AMkwtolleyright answers
So most of my answers from yesterday are right. or some are right. thanks fo looking at my answers.