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Math Question?
Suppose one of your ancestors invested $500 in 1800 in an account paying 4% interst compounded annually. Find the account balance in each of the following years:
1850
1900
2000
2100
Show work and the first one gets best answer!
7 Answers
- 1 decade agoFavorite Answer
Compound interest is calculated according to the following formula:
F = I*(1+r)^t
where the variables are defined as follows:
F: final account balance
I: initial account balance (in this case, $500)
r: annual interest rate (in this case 4%, or 0.04)
t: number of years elapsed
So, the answers are:
for 1850:
F = 500*1.04^50 = $3,553
for 1900:
F = 500*1.04^100 = $25,252
for 2000:
F = 500*1.04^200 = $1.28 million
for 2100:
F = 500*1.04^300 = $64.4 million
- 1 decade ago
I KNOW I LEARNED THAT IN TH GRADE, SRY, I JUST CANT REMEMBER oops, sry about the caps!!! â¥I JUST LEâ¥RNED Hâ¥W T⥠DOâ¥THâ¥T!!! AWESOME HUH!!!!! well, gâ¥â¥d luck w/ yâ¥ur hw!!!!! ⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠â¥
Source(s): ⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠â��¥ ⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠⥠- 1 decade ago
use the formula
i dont know it off hand
500(1 +.04)^ 50
A= P (1+(r/n))^nt
p = initial investment
r = % invested
n= number of times compouned
t = number of years
500(1.04)^50 = 1850
500(1.04)^100= 1900
" " ^200=2000
" " ^300=2100
they are really big numbers
are u shore u wrote the problem right
A = P e^nt
1850 = 759.23
1900 = 1 344.05
2000 = 3612.98
2100 = 9,712.13
im not exactly shore about this
but those are 2 formulas u can use to figure this out
i dont have a graphing calc with e button available right now
hope it helps alittle:)
500 e^1(50)
- 1 decade ago
The formula is
future value = present value ( 1 + rate)^years
FV = P(1+r)^n
FV = 500(1+.04)^n
use the above formula
n = 50 FV = $3,553.34
n = 100 FV = $25,252.47
n = 200 FV = $125,374.90
n = 300 FV = $64,412,743.02
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- 1 decade ago
Well you could do it with a calculator, but it takes forever...
1800 = $500
1801 = $520
1802 = $540.8
1803 = $562.43
1804 = $584.93
1805 = $608.33
1806 = $632.66
1807 = $657.97
1808 = $684.28
1809 = $711.66
1810 = $740.12
OK there, I did 10 years, that's enough, don't you think?
