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Compound interest

The question is:
Find the amount due on each compound interest loan.

$7500 at 6.5% for 8 years 6 months if the interest is compounded:

a. Annually b. Quarterly c. Weekly

I know the formula is A=P(1+(r/m))^(mt)

but my question is, how do i write the ''8 years 6 months'' as my time (t)?

Solution Summary

This explains how to write a time period as t in a compound interest equation.