Wiki User
∙ 14y agoP= 8800 Fv = 26400 i=7% n=?
Fv=P(1+i)to the power n
26400 =8800 (1+0.07/12) to the power 12n
n=15.83years
since it is compounded monthly we divide the rate by 12 and multiply the number of years by 12.
Wiki User
∙ 14y ago1000 x (1.01)12 = $1126.83
572.56
187.32
161.35
322.7
1000 x (1.01)12 = $1126.83
635.24
313.37
648.68
572.56
187.32
161.35
322.7
283.52
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
275.28
610.45