Hi @gregmat @Serena @sisi @jai @everyone
There is a mistake about compound interest formula in percent-ratio video on week 1 day 2 (part 2)?
“if an initial amount of $1000 has an annual interest rate of 12% and compounded every 3 months, what will be the result after a year ?”
Greg solved like this: 1+\frac{0.12}{3} = (1.04)^4*1
But is should be: 1+\frac{0.12}{4} = (1.03)^4*1.
Please confirm.
Regards,
Bab