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Given:
- Initial Investment = 8000
- Time = 10 years
- Rate = 6% = .06
Assumptions:
- Assuming compounded annually (i.e., every year, the investment is increased by 6%). I will also solve for compounded monthly.
Formula and Variables:
- A = P[1+(r/n)]nt, where:
- A = total money after some time
- P = Initial Amount
- r = Interest Rate as a decimal (annual)
- n = how many times interested is compounded per year (we are using 1)
- t = time in years
From there, just plug in everything into the formula:
A = P[1+(r/n)]nt
A = (8000)[1+(.06/1)](1)(10)
A = (8000)(1.06)10
A ~= 14326.782
because currency only goes to the cent, round to the cent
A = 14326.78 (if interest is compounded annually)
If interest where compounded monthly:
A = P[1+(r/n)]nt
A = (8000)[1+(.06/12)](12)(10)
A = (8000)(1.005)120
A = 14555.17 (about 288.39 more than compounded annually)
I've given you the formula, and two possible answers, all bolded. If your interested is compounded at another interval, just use the formula. Example, if interested is compounded quarterly, use n=4 instead.
Wiki User
∙ 11y ago
Kymberly Hunsaker
Wiki User
∙ 14y agoAssuming the interest is compouded annually:
8000 x (1.10)6
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What is 47 percent of 8000?
47 percent of 8000 is 3,760
What is 80 written as a percent?
80 written as a percent = 8000% 80 * 100% = 8000%
What is 4.75 percent of 8000?
To find 4.75 percent of a number, multiply the number by 0.0475. In this instance, 0.0475 x 8000 = 380. Therefore, 4.75 percent of 8000 is equal to 380.
What is 80.00 - 40 percent?
40
What is 60 percent off 8000?
(8000/100)*60 = 4800
Present value 8000 in 10 years at 6 interest?
PV= FVxPVIF $8,000x.558= $4,464
8000 invested for 7 years at 8 percent compounded annually?
Assuming interest is added at the end of the year, the future value is 13,710.59
Forty percent of what number is 8000?
To find the number of which 8000 is the forty percent, let us consider that number as x. Now, 40/100 = 8000/x. Therefore, x = (8000 X 100)/40. This yields a value 20,000. Thus, 8000 is the 40% of 20,000.
What is 15 percent of 8000?
8000 * 0.15 = 1200
What is 47 percent of 8000?
47 percent of 8000 is 3,760
What is 7900 percent out of 8000?
To calculate 7900 percent of 8000, calculate (7900 / 100) x 8000.
What is the 10 percent of 8000?
10% of 8000= 10% * 8000= 0.1 * 8000= 800
What is 13 percent out of 8000?
13% of 8000= 13% * 8000= 0.13 * 8000= 1,040
What is 2 percent of 8000?
2% of 8000 = 2% * 8000 = 0.02 * 8000 = 160
What is 80 written as a percent?
80 written as a percent = 8000% 80 * 100% = 8000%
How much is 20 percent of 8000?
20% of 8000 = 20% * 8000 = 0.2 * 8000 = 1600
What is 58 percent of 8000?
58% of 8000= 58% * 8000= 0.58 * 8000= 4,640
