Answer:
= 1.38778e-141 which makes interest a large amount 139 million and 108 hundred thousand and fourhundred and four.
Step-by-step explanation:
The equation is A= P 1+ r/n ^nt
So we input for A = (11000) x 1.30/11000 ^ 36 x 3
= 1.38778e-141 which makes interest a large amount 139 million and 108 hundred thousand and fourhundred and four.
The formula used in the compound interest calculator is A = P(1+r/n)(nt)
A = the future value of the investment
P = the principal investment amount
r = the interest rate (decimal)
n = the number of times that interest is compounded per period
t = the number of periods the money is invested for
Year Year Deposits Year Interest Total Deposits Total Interest Balance
1 $0.00 $245,278.94 $11,000.00 $245,278.94 - $256,278.94
2 $0.00 $5,714,529.54 $11,000.00 $5,959,808.47 - $5,970,808.47
3 $0.00 $133,137,595.61 $11,000.00 $139,097,404.08-$139,108,404.08
×
as a decimal would be 0.53
