<p>Did you have to use the compound interest formula? Shoot. I don’t remember reading “compound”…all I did was multiply the starting value*rate^4 …</p>
<p>You could of always just done it by hand and multiplied with interest four times</p>
<p>All i did was multiply the principle by .052, got the answer,and did it three more times. I got 4 thousand something</p>
<p>so…(starting value) x 1.052^4?</p>
<p>No, that would be compounded yearly for four years.</p>
<p>The question asked for compounded quarterly for one year. (starting value) x (1 + 0.052/4)^4. The answer should be significantly lower.</p>
<p>No, the question was asking for the value of the 3,500 after it was compounded quarterly,which means four times per year.</p>
<p>I think I did the method Mycoalwin and others are talking about at first and it was one of the answer choices. Ya’ll fell for a trap.</p>
<p>Compounded quarterly does mean four times per year, yes. I think it really depends on how the problem was worded. I took it that it meant that the starting value compounded 1.052 every quarter…</p>
<p>That’s exactly what it meant, and what you did is wrong in that case. The interest rate is always yearly. The compounding frequency means that money is “added up” to the existing sum a certain amount of times per year as it continues growing exponentially.</p>
<p>what was the answer then?</p>
<p>Wait, I don’t see the difference.</p>
<p>In a year, it is compounded four times.</p>
<p>So why wouldn’t 3500 x 1.052^4 work? In this equation, you are compounding it four times. If you wanted to do it in years, you could say 3500 x 1.052^4t…</p>
<p>I don’t think the problem said that the 5.2% interest rate was annual, though. If i remember correctly, all the problem said was that the value was compounded 5.2%. In that case I think I’d be right.</p>
<p>But then again, if I misread it, then you’re right, Mike.</p>
<p>
</p>
<p>because 5.2% is not the quarterly interest. It’s the yearly interest. You need to compound by the quarterly interest.</p>
<p>True, Mycoalwin. I was assuming it did specify that, though I’m not entirely sure.</p>
<p>You need to work out the interest, then divide that by 4, then add it on, and repeat by multiplying it by the interest rate… all that 4 times for each quarter. So (3500 x 1.052)/4 + 3500. That’s your first number. Repeat</p>
<p>I guess we need someone that’s like 99% sure about what they read… ahaha. I wouldn’t think they’d test us on that compound interest formula, though. It was in NONE of my practice tests (3 Barron’s, 5 Sparknotes)</p>
<p>Then it would be too easy, I think. The question was in the 40’s. But who knows.</p>
<p>I thought it was a lot easier than October’s. I only skipped 4 this time as opposed to skipping 10 on the other one (still got a 720 though).</p>
<p>Didn’t know how to do the vector magnitude, interest compounding one, and two others I can’t remember.</p>
<p>I always forget to look up vector magnitudes and interest formulas and they’re ALWAYS on the Math II.</p>
<p>so for the vector we don’t use 50 for the law of cosines?</p>
<p>what would an omit 5 3 wrong be
or omit 6 3 wrong
I can’t remember</p>
<p>the interval one was 2 pi. I graphed it -_-.
the left side was -3.14 and the right side was 3.14
addition of the two numbers= 2pi</p>