Compounding of simple interest can be used by the following formula:
P = P0 * (i+1)n
where i is the ineterest rate; n the number of years; P0 initial principle
P = 10,000 * (0.03+1)30
= 10,000*(2.427262)
= $24,272.62
$14,693.28
see this similar question, problem is done the same way.What_is_the_value_of_10000_with_a_3_percent_interest_over_30_years
The future value (FV) of $10,000 at 5% interest for 7 years follows the following formula: 10,000 (1+.05)^7 = 10,000 * 1.41 = $14,100
3000
What is the future value of $1,200 a year for 40 years at 8 percent interest? Assume annual compounding.
$14,693.28
V = 10000*(1.05)20 = 26532.98 dollars
To calculate the interest gained on something, a simple formula is used. Initial value x (percentage increase as a decimal)^years So: 10000 x 1.05^15 = 20789.28 (2d.p).
In two years, the value of 10,000 dollars with 3.78 interest would be 10,770.29 dollars. An increase 770.29 dollars would be realized.
see this similar question, problem is done the same way.What_is_the_value_of_10000_with_a_3_percent_interest_over_30_years
79.17
The monthly interest is 100.
simple interest .. A = P(1+r)t 10000 = P(1.05)5 P = 10000 / (1.05)5 P = 7835.26
The future value (FV) of $10,000 at 5% interest for 7 years follows the following formula: 10,000 (1+.05)^7 = 10,000 * 1.41 = $14,100
An average of 321.56
3000
You will have $11576.25