Calculus Made Easy by Unknown

Author:Unknown
Language: eng
Format: epub
Publisher: St. Martin's Press

But this mode of reckoning compound interest once a year is really not quite fair; for even during the first year the $100 ought to have been growing. At the end of half a year it ought to have been at least $105, and it certainly would have been fairer had the interest for the second half of the year been calculated on $105. This would be equivalent to calling it 5% per half-year; with 20 operations, therefore, at each of which the capital is multiplied by . If reckoned this way, by the end of ten years the capital would have grown to more than $265; for

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