Value = 150*(1.09)3 = 150*1.295 = 194.25
$14,693.28
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
$716.66 The formula is Principal times e to the rate times time power. Future Value = PeYr
What is the future value of $1,200 a year for 40 years at 8 percent interest? Assume annual compounding.
$14,693.28
Assuming interest is added at the end of the year, the future value is 13,710.59
Future value = 8400*(1 + 0.05*6) = 8400*(1.3) = 10,920 dollars.
1 x (1.03)40 = 3.26
Simple interest, 500 + (5 x 5 x 4) = 600. Compound 500 x 1.04^5 = 632.66
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
$5,052.22
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 compound interest formula is A P(1 r/n)(nt), where: A the future value of the investment P the principal amount (initial investment) r the annual interest rate (in decimal form) n the number of times interest is compounded per year t the number of years the money is invested for You can use this formula to calculate the future value of an investment with compound interest.
$716.66 The formula is Principal times e to the rate times time power. Future Value = PeYr
To calculate compound interest in Google Sheets, you can use the formula A P(1 r/n)(nt), where: A is the future value of the investment P is the principal amount (initial investment) r is the annual interest rate n is the number of times the interest is compounded per year t is the number of years the money is invested for You can input these values into separate cells in Google Sheets and then use the formula to calculate the compound interest.