Pre Calc!?? HELP!!!!

Hi i really need help in my math class! If someone could please show me how to do this i would be so thankful!!!!

The Investment amount for all of these questions is $450 and the interest rate is 8.00%

If your investement was compounded continuously, how much would it earn after one year?

If your investment were compounded quarterly, what would the equivalent Annual Percentage Yield (APY) be?

If you invested this same amount quarterly, how much would your investment be worth after 10 years?

for the first one, the formula you need is
P=Ce^(rt)
so basically, final amount equals original cash times e to the power of rate times time(in years)
When plugged in, it looks like
P=450e^[(.08)(1)]
when plugged into a calculator you get $487.48

the second one
APY = (r/n + 1)^n
n being the number of times compounded annually, in this case being 4
so
APY = (.08/4 + 1)^4
this equals 1.08243216
you would then subtract one and change it to a percent, leaving you with 8.243216%

for number 3
i'm guessing it means that it will be compounded quarterly
in that case our formula would be
P = C(1+r)^t
P = 450(1+.08)^10
P = $971.52

hope this helps

your APY is 144 so if you get 144 for interest an you invest 144 quarterly also after ten years you will have 11520 for your total ten years

Please state the rate properly, is it 8% per annum, or monthly?

Formula for compound interest is A = P ( 1+ i )^n

A is the amount, P the principal, i the interest rate and n the number of years

When interest is calculated more frequently (q) than 1 year
A = P ( 1 + (n/q))^nq

I don;t know what you mean by continuously - daily?

For quarterly compounding
A = 450( 1+ (0.08/4))^1.4

A = 450(1.02)^4
A = 450 x1.0824 = $487.08
To find APY 487.08/450 = (1 + i) = 1.0824
So APY = 0.0824
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After 1- years, A = 450(1.02)^40 = 450(2.208) = $993.62
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