Money Growth Over Time

$logo for solving-math-problems.com$

$leftimage for solving-math-problems.com$

Money Growth Over Time

by Kate
(Australia)

TASK

As an advisor you want to produce a display on your computer to show clients how their money grows. produce such a display so that clients can quickly and easily see how their money grows. Provide hard copies of two situations with a short explanation of each.

For the first situation, I have made a graph, but I'm not sure if it's right. And I don't know what to do for the second situation.

thanks

Comments for
Money Growth Over Time

Average Rating $star$ $star$ $star$ $star$ $star$

Click here to add your own comments

Sep 03, 2011
Rating
$star$ $star$ $star$ $star$ $star$

Money Growth Over Time
by: Staff

The question:

by Kate
(Australia)

TASK

As an advisor you want to produce a display on your computer to show clients how their money grows. produce such a display so that clients can quickly and easily see how their money grows. Provide hard copies of two situations with a short explanation of each.

For the first situation, I have made a graph, but I'm not sure if it's right. And I don't know what to do for the second situation.

thanks

The answer:

Your graph looks like it’s correct. However, the file you uploaded is a little blurry - it is hard to read the numbers.

I completed two sample calculations and plotted them using excel for comparison purposes. The graph should be comparable to yours.

Situation 1 – Deposit $5,000 in an interest bearing account. Interest Rate 5% per annum, compounded quarterly. No additional deposits made.

(1) Click the following link to VIEW a snapshot of the excel spreadsheet computations; or (2A) highlight and copy the link, then (2B) paste the link into your browser Address bar & press enter:

Use the Backspace key to return to this page:

http://www.solving-math-problems.com/images/table_a_2011-09-02.png

Situation 2 – Deposit $5,000 in an interest bearing account and add $120 per year deposited the last day of the year (only $10 per month). Interest Rate 5% per annum compounded quarterly.

(1) Click the following link to VIEW a snapshot of the excel spreadsheet computations; or (2A) highlight and copy the link, then (2B) paste the link into your browser Address bar & press enter:

Use the Backspace key to return to this page:

http://www.solving-math-problems.com/images/table_b_2011-09-02.png

Comparison using an excel scatter plot

(1) Click the following link to VIEW a snapshot of the graphical comparison; or (2A) highlight and copy the link, then (2B) paste the link into your browser Address bar & press enter:

Use the Backspace key to return to this page:

http://www.solving-math-problems.com/images/graph_comp_int_2011-09-02-a.png

Thanks for writing.

Staff
www.solving-math-problems.com

Click here to add your own comments

Join in and write your own page! It's easy to do. How?
Simply click here to return to Math Questions & Comments - 01

+1 Solving-Math-Problems

Home Page

Site Map

Search This Site

Free Math Help

Math Symbols

Operations Symbols

Relation Symbols

Grouping Symbols

Set Notation Symbols

Miscellaneous Symbols

Calculators

Math & Numbers

Properties of Numbers

Exponents, Radicals, & Roots

Privacy Policy

+1 Solving-Math-Problems

Money Growth Over Time

Comments for
Money Growth Over Time

+1 Solving-Math-Problems

+1 Solving-Math-Problems

Money Growth Over Time

Comments for Money Growth Over Time

Comments for
Money Growth Over Time