$14,693.28
1 x (1.03)40 = 3.26
What is the future value of $1,200 a year for 40 years at 8 percent interest? Assume annual compounding.
Principal amount 5,000 Interest rate 9 percent per year = 0.09 Continuous compounding Number of years 7 Future value = P e^rt Future value = (5000) e^(0.09)(7) Amount after 7 years = $9,388.05
Value = 150*(1.09)3 = 150*1.295 = 194.25
With only one year the value is 11600
1 x (1.03)40 = 3.26
What is the future value of $1,200 a year for 40 years at 8 percent interest? Assume annual compounding.
Principal amount 5,000 Interest rate 9 percent per year = 0.09 Continuous compounding Number of years 7 Future value = P e^rt Future value = (5000) e^(0.09)(7) Amount after 7 years = $9,388.05
Assuming interest is added at the end of the year, the future value is 13,710.59
$1480.24
Future value = 8400*(1 + 0.05*6) = 8400*(1.3) = 10,920 dollars.
Value = 150*(1.09)3 = 150*1.295 = 194.25
With only one year the value is 11600
Simple interest, 500 + (5 x 5 x 4) = 600. Compound 500 x 1.04^5 = 632.66
It depends how the interest is calculated. If it's compounded, your initial 500 investment would be worth 638.15 after 5 years.
Future value = 1000*(1.08)7 = 1713.82
$5,052.22