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Algebra Word Problem Solver solves many types of Compound Interest word problems.
EXAMPLE: Find Compound Amount given Interest rate, Time Period and Compounding. See More Compound Interest Word Problem Examples solved by the Algebra Word Problem Solver.
- Find Compound Interest
- Find Compound Interest Time to Double
- Find Compound Interest Rate
- Find Compound Interest Present Value
- Find Compound Interest Future Value
- Continuously Compounded Interest
What You Enter
Find the compound amount for $9100 at 8% compounded quarterly for 4 years.
What You Get
Let A = Final Amount
Let P = Principle
Let r = Rate
Let t = Time
Let n = Interest periods per year
Given: P = $9100
Given: r = 8%
Given: n = 4
Given: T = 4 YEARS
A = P(1+r/n)
4*4
A = 9100(1+0.08/4)
16
A = 9,100(1+0.02)
A = 9100 * 1.37279
A = $12,492.35
Solution: A = $12,492.35
