What is the formula to use to calculate compound interest on an HP 10B II calculator?
If I have a bank account that has 500 dollars in it at 6.2% what will I have in my account in 5 years?
Now assume the bank account earns compound interest but compounded quarterly (four times a year), assuming a 6.2% nominal int. rate, componded quarterly, how much will be in my account after five years?© BrainMass Inc. brainmass.com March 4, 2021, 11:28 pm ad1c9bdddf
This solution provides a detailed, step-by-step explanation of the given finance problem.