It is 712.97
138645
1 x (1.03)40 = 3.26
Annual: 176.23 Semiannually : 179.08 Quarterly: 180.61 Monthly: 181.67 Daily: 182.19 (assuming 365.25 days per year, on average).
Assuming the interest is compounded annually, the future value is 100*(1.04)10 = 100*1.4802 (approx) = 148.02
$5,052.22
It is 712.97
138645
1 x (1.03)40 = 3.26
Annual: 176.23 Semiannually : 179.08 Quarterly: 180.61 Monthly: 181.67 Daily: 182.19 (assuming 365.25 days per year, on average).
the future value of $5,000 in a bank account for 10 years at 5 percent compounded bimonthly?
Compounded annually: 2552.56 Compounded monthly: 2566.72
1862
$1480.24
Assuming interest is added at the end of the year, the future value is 13,710.59
39,337.20
Wow! Where can we get some of that 11.75% ?!?The future value is 5,800 x (1.1175)30 = 162,500.22 (rounded)