Compound Interest - More than Once Per Year - Part 2

[sarazuu]

How would I solve this problem: Suppose you invest $200, at a 9% per annum, compounded quarterly. How long will it take your investment to double?

[sanjamagha]

grt thnkssssssssssssssssssssssssss alot youtube lessons rocks ******

[danagamer]

6% is tremendous, where can I get 6%? To be more realistic, with an APR of %1 (Bank of America) You will need to invest $16,707 for 18 years. :-(

[apple0049]

hey i have a question, if it is not compounded monthly, but instead semi anually or every 3 month, what should the "n" be? if its monthly , it is 12 but what about other examples? should it be semi anually then n=2?? and every 2 month compounding is n= 4?? thank you so much in advance

[MrVinnyable1]

Thank You

-From Thailand!

[MrLukasart]

your teaching skills are a rare commodity these days my friend

[bluemicrowave64]

when do you know when to use the simple interest formula or the compound interest formula?

[patrickJMT]

@bluemicrowave64 the problem should specifically state that you are earning simple interest or compound interest

[camillevs]

Thank you .

[SoccerChic177]

Very helpful. Thank you :)

[barneel0verz]

great videos, they really help me out a lot since my math teacher is garbage. are there still video ratings because i want to give this a 5 but i cant find where since they changed youtube

[dominicantuloab]

thanks dude I had the exact type of problem 5/5 dude

[aparrotslife]

Thank you, Patrick!!!

[h0opman31]

how do i put 1.005 to the 216th power on a scientific calculator?

[knowfortyfive]

Thanks much (this thank you is coming from as far as Jamaica)

[patrickJMT]

happy to help : )

[fldoughboy72]

Definitely an excellent problem! Could Log and LN be used here to solve this also? Just a thought.

[patrickJMT]

well, i dont think you would need logs for anything in this problem.

if we are solving for the exponent (maybe we had to figure out how many years would be needed under certain circumstances, for example) then we would need logs

[fldoughboy72]

Ok that's true. I didn't think of that.

[ikkayodic]

are you a teacher? not that you should be, but you teach really well

[restevao6699]

ans = 6810.21 (2 dec place)

and

you are the greates help

[kylecoolio12]

excellant explanation, however, once again, question: do these types of scenarios play a role in professional accounting or is it more so directed to a financial adviser or careers of that nature, greatly appreciated!

[tenormadness126]

great explination!

[9873382134]

neatly explained