In what way do you consider them time consuming? The steps you should be taking with these problems are:
1. Determine number of compounding periods.
2. Determine interest rate as a total percentage, and not a relative percentage (i.e. convert "a gain of 20% per period" into "120% per period = 1.20"
3. Raise the total percentage to the number of periods (1.20^3 for three periods).
4. Multiply step 3 by the principle.
Steps 1 and 2 are simple reasoning and math that you
...
1. Determine number of compounding periods.
2. Determine interest rate as a total percentage, and not a relative percentage (i.e. convert "a gain of 20% per period" into "120% per period = 1.20"
3. Raise the total percentage to the number of periods (1.20^3 for three periods).
4. Multiply step 3 by the principle.
Steps 1 and 2 are simple reasoning and math that you
...