00:01
So for a bunch of these problems, they're pretty much the same.
00:06
What changes from one to the next is that semi -annually is n equals 2.
00:12
When you go to part b, when they say quarterly, quarterly is n equals 4.
00:25
And then for part c, when they get to monthly, you're at n equals 12.
00:31
And part d is something entirely different.
00:34
So 1 plus r over n to the nt power is pretty well known.
00:40
So in part a, when they tell you that you have $10 ,000, one plus make sure you change your rate of 6 .5 % to be 0 .065.
00:53
A lot of students mess that up to the two times they say after four years.
01:00
Now with some calculators, you actually have to put this in parentheses.
01:03
Or just type into the eighth power.
01:07
I'm just going to type into my calculator.
01:10
1 plus 0 .065 over 2 to the 2 times 4 power or to the 8th power should give you the right answer is $12 ,915 .78.
01:26
Because the only thing that's different with the next one is you have to change both of those 2s to 4.
01:35
And if you're using a calculator without parentheses, you might just write it to the 16th power...