7,093
* * * * *
No, that is for 6 years. For 5 years it is 5000*(1.06)5 = 6691.13
1200
It is 5000*(1.06)4*11/2 = 5000*1.0622 = 5000*3.064 approx = 18017.69 You realise, of course, that 6 percent quarterly is equivalent to over 26% per year!
Your going to fail the test.
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 formula to calculate the present amount including compound interest is A = P(1 + r/n)nt where P is the principal amount, r is the annual rate expressed as a decimal , t is the number of years, and n is number of times per year that interest is compounded. In the question, P = 5000, r = 0.07, t = 4, and n = 1 A = 5000(1 + 0.07)4 = 5000 x 1.074 = 5000 x 1.310796 = 6553.98
Invest at an amount of 200000 at a bank that offers an interest rate of 7,6%p.a Compounded annually for a period of 3 years
5000 x (1.06)5 = 5000 x 1.338 = 6691.13
4500233.00
You will have 5000 dollars × (1 + 8/100)18 = 19,980 dollars.
5000 x (1.03)10 = $6719.58
1200
It is 5000*(1.06)4*11/2 = 5000*1.0622 = 5000*3.064 approx = 18017.69 You realise, of course, that 6 percent quarterly is equivalent to over 26% per year!
Your going to fail the test.
If you opened a savings account and deposited 5000 in a six percent interest rate compounded daily, then the amount in the account after 180 days will be 5148.
Using excel FV function all added monies & interest paid @ end of period 5000 invested @ 8% /year for 30 yr no additional monies 50,313.28 with 5000 added end of each year 662,042.62 with 5000/12 added end of each month 679,801.64 with 5000/24 added twice a month 680,679.68
You should have 5976.51 provided the fractional units of interest earned are also rolled into the capital.
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