00:01
Given that the principal deposited each month is equal to $300, the rate of interest is equal to 6 % compounded month.
00:33
The time is equal to 30 years.
00:41
The solution is part a.
00:50
A1 is amount after one month then a1 equal to p multiplied by 1 plus r divided by 2 s over to the power 1 divided by 2x time equal to 1 month.
01:19
The formula we are going to use here is a equal to p multiplied by 1.
01:29
1 plus r divided by n, 0 to the power t multiplied by n, where n is number of times compounded and t is times.
01:59
Now p amount is deposited total principle is equal to a1 plus p a to equal to amount after two months we get a1 plus p one plus r divided by two l fold to the power one divided by two x simplify it and substitute the values we get p one plus r divided by twelve fold to the power 1 divided by 2l multiplied by 1 plus 1 plus r divided by 2l 0 to the power 1 divided by 2l similarly a 3 equal to amount of 3 months in equal to a 2 plus 2 1 plus r divided by 2l over to the power 1 divided by 2x simplify it, we get 8p.
03:43
A3 equal to p 1 plus r divided by 12, hold to the power 1 divided by 12, multiplied by 1 plus 1 plus 1 plus 1 plus r divided by 12, hold to the power 1 divided by 12, plus 1 plus r divided by 12, hold to the power 2 divided by 12.
04:06
Therefore, continuing for n months, we get a equal to p.
04:22
1 plus r divided by 12, hold to the power 1 divided by 12, multiplied by 1 plus 1 plus are divided by 12, hold to the power 1 divided by 12, plus continues plus 1 plus r divided by 2l, 4 to the power n minus 1 divided by 2l.
04:48
Let t equal to 1 plus r divided by 2l hold to the power 1 divided by 2l equal to p t 1 plus t squared plus t to the power n minus 1...