![\"\"](\"/userfiles/image/steps_images/step1.JPG\")
From the given data : P = $12,000 and r = 3.5%.
\r = ![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=a664ccffcd2dc4bae7fbed559ecbf16c.png\")
.
Formula for continuous compounding : ![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=2311120d9ea22a5beaa52f68619525e0.png\")
.
![\"\"](\"/userfiles/image/steps_images/step2.JPG\")
Compounding per 10 years, the balance is : \ \
\![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=c5801cc742a81446fda07f6ffad68e84.png\")
Compounding per 20 years, the balance is :
\![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=cfbb74d8bbe39a3174a386e3954806d2.png\")
Compounding per 30 years, the balance is :
\![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=c233294f94111da6925591d0ce93b6b5.png\")
Compounding per 40 years, the balance is :
\![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=60ffe7a73984861470b1551c666023ef.png\")
Compounding per 50 years, the balance is :
![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=5f090fce837469b57e6630085bca1cd1.png\")
![\"\"](\"/userfiles/image/steps_images/step3.JPG\")
The table for compound interest is :
\| t | \10 | \ \
20 \ | \
\
30 \ | \
\
40 \ | \
50 | \
| \
A \ | \
\
$17028.81 \ | \
\
$24165.03 \ | \
\
$34291.81 \ | \
\
$48662.4 \ | \
\
$69055.23 \ | \
![\"\"](\"/userfiles/image/steps_images/solution.JPG\")
The table for compound interest is : \ \
\| t | \10 | \ \
20 \ | \
\
30 \ | \
\
40 \ | \
50 | \
| \
A \ | \
\
$17028.81 \ | \
\
$24165.03 \ | \
\
$34291.81 \ | \
\
$48662.4 \ | \
\
$69055.23 \ | \