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
the future value of $5,000 in a bank account for 10 years at 5 percent compounded bimonthly?
Future value= 25000*(1.08)10 =53973.12
Simple interest, 500 + (5 x 5 x 4) = 600. Compound 500 x 1.04^5 = 632.66
72
Future value = 1000*(1.08)7 = 1713.82
$5,052.22
$14,693.28
Wow! Where can we get some of that 11.75% ?!?The future value is 5,800 x (1.1175)30 = 162,500.22 (rounded)
Value = 150*(1.09)3 = 150*1.295 = 194.25
Future value = 8400*(1 + 0.05*6) = 8400*(1.3) = 10,920 dollars.
Assuming interest is added at the end of the year, the future value is 13,710.59
1 x (1.03)40 = 3.26
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
the future value of $5,000 in a bank account for 10 years at 5 percent compounded bimonthly?
What is the future value of $1,200 a year for 40 years at 8 percent interest? Assume annual compounding.
3232x0.055x10=1777.6 that is how much you would make and to find out how much you now have is 3232+1777.60=509.6 hope this is right!