What equation do you use to compound interest bimonthly?
1 answer:
Answer:
According to the dictoinary here:
https://www.dictionary.com/browse/bimonthly
bimonthly COULD mean:
occurring every two months OR occurring twice a month
That means that the "n" in the graphic could equal 6 OR 24
Total = Principal * (1 + (rate/6) )^(6 * years) OR
Total = Principal * (1 + (rate/24) )^(24 * years)
Step-by-step explanation:
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Answer:
2.65
Step-by-step explanation:
Multiply each payout by its probability, then add those products.
See the attached image.
The first column has the payouts. The second column has the probabilities. The third column has the results of multiplying a payout by its probability.
The sum of the entries in the third column is 2.65
