compounded interest

啦啦啦

Sam deposits $5000 at the beginning of each month.if the interest rate is 8%
p.a. compounded monthly,find the amount at the end of the third month .
(correct your answer to the nearest dollar)

我想問點解條式係 5000(1+8%/12)^3 + 5000(1+8%/12)^2 + 5000(1+8%/12)

而唔係只係5000(1+8%/12)^3 ?? 不是包含了3個月了嗎?thx!!

sapphire

Please read the question carefully

Sam deposits $5000 at the beginning of each month.if the interest rate is 8%
p.a. compounded monthly,find the amount at the end of the third month .
(correct your answer to the nearest dollar)

[ 本帖最後由 sapphire 於 31/10/2007 09:56 PM 編輯 ]