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Compound interest calculations

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Find the present value of $4,100 under each of the following rates and periods.

(If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)

a. 8.9 percent compounded monthly for five years.

Present value $

b. 6.6 percent compounded quarterly for eight years.

Present value $

c. 4.3 percent compounded daily for four years.

Present value $

d. 5.7 percent compounded continuously for three years.

Present value $

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Solution Summary

Examples of compound interest calculations

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A = amount of money accumulated after n number of years, including interest
P = principal amount
r = annual interest rate
n = number of times interest is compounded per ...

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