Inserting values into the formula for compound interest, you get:4100 * (1 + 3.75/100) to the power 6.
twoo '
It might just be 10%.
(2)1/21 = 1.03356 (rounded)That's an annual interest of 3.356 percent.Let's try it:(1.03356)21 = 2.00009 on my calculator, which is pretty close.
Total value = 20000*(1.06)2 = 22472 So interest = 2472
500 invested for 5 years at 7% interest compounded annually becomes 701.28
Answer: 9.1% At 8.5% principal grows by (1+(.085/12))^12 = 1.0884 times in one year which is less than investing at 9.1%.
"Compounded annually" means that the interest is added once a year.
Compounding frequency refers to how often interest is calculated and added to the principal amount in an investment or loan. Common compounding frequencies include daily, monthly, quarterly, semi-annually, and annually. The more frequently interest is compounded, the higher the overall return or cost will be on the investment or loan.
The future value of a 500 investment with a 5 annual interest rate compounded annually after 5 years is approximately 638.14.
Assuming that 1.5 refers to 1.5% and that the interest is compounded annually, the principal is 893.30
Twice
twoo '
Once.
It might just be 10%.
It is 52936.72
Compounded semi-annually means that interest on an investment or loan is calculated and added to the principal amount twice a year. This process allows the interest to earn interest, leading to a faster accumulation of wealth or increased debt over time. For example, if you invest or borrow money with a semi-annual compounding frequency, the interest for the first six months is added to the principal, and the total becomes the new principal for calculating interest in the next six months.
8.0432 years (rounded) if compounded annually.