100 at 9% APR will take about 22 and a half years to reach 700.
100 x 1.0922.5 approximately equal to 700
Using the continuous compounding formula, the investment will take approximately 15.3 years to grow to 700.
8.0432 years (rounded) if compounded annually.
in 8 years it wll be 107.179
3000
At 8% per month, compounded, it will take just 1.2 years. However, with monthly interest such that its annual compounded equivalent is 8% (roughly 0.64% each month), it will take 14.27 years.
5% is a nice healthy rate for compounding. After 100 years, your investment of 4,500 grows to 591,755.66 . Too bad you're not around to enjoy it.
This is calculated as 500 x 1.094.
11 years
59.91
8.0432 years (rounded) if compounded annually.
in 8 years it wll be 107.179
Interest = 2472
$1480.24
$44,440.71
3000
If compounded, it will take 21.818 years.
At 8% per month, compounded, it will take just 1.2 years. However, with monthly interest such that its annual compounded equivalent is 8% (roughly 0.64% each month), it will take 14.27 years.
If the interest is simple interest, then the value at the end of 5 years is 1.3 times the initial investment. If the interest is compounded annually, then the value at the end of 5 years is 1.3382 times the initial investment. If the interest is compounded monthly, then the value at the end of 5 years is 1.3489 times the initial investment.