Simple math question i just cant seem to understand! [HELP PLEASE]

[StealTheKo]

A=P(1+i)n The "n" is small at the top so squared im guessing.

Example:

A = 800(1+0.01)20 20 being small at top.

A = 1188.76


For some resone i cant figure these out.

Remember the number at the end is smaller and at the top.

A = 600(1+0.05)7

A =


Can someone explaine to me how this is happening i dont understand?

 

[Imagine]

You can denote powers using the ^ symbol on top of your six.
So what's your question?

for the second one, you would do 1 + 0.05, raise that to the seventh power, and then multiply it by 600?

 

[BEN007]

I think that's wrong.

In the example, the answer is actually A = 976.152032

So the second one is be 844.2602536


This is how I do it:

1.05^7 = 1.407100423
1.407100423*600 = 844.2602536

Edit: I'm using the same method as Imagine.

 

[terrif]

It isn't 1188.76 it's supposed to be 976.152032 i'm pretty sure..

used your equation and also using a financial calculator and came up with the same answer.. either your numbers are wrong or the solution is wrong.

 

[Clashfan]

All above posters are right your example is wrong.