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The formula for compound interest is
FV = PV * (1 + i) ^ t
Where
FV = Future Value
PV = Present Value
t = time
i = interest rate
As an example, suppose you have $100 now, the interest rate is 5%, and the time is 4 years. The future value is then
FV = $100 * (1 + 0.05) ^ 4 = $100 * (1.05)^4 = $100 * 1.21550625 =~ $121.55
After four years, you will have $121.55. Note the answer has been rounded to the nearest cent.
What else can I help you with?
Find compound interest on Rs800 for 3 years at an interest 8 percent compounded semiannually for three years Find the compound inte?
800 x (1.04)6 ie Rs1012.26
How to find thirteen digit canara bank account no from five digit?
ask in the bank
What is the equation to find compound interest?
If the rate of annual interest is r% the period is n years and the amount invested is y Then the compound interest is y*(1+r/100)^n - y
The difference between the simple and compound interest on a certain sum is Rs250 for two years at 5 percent Pa per annum Find the sum?
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
How can you find out your 13 digit canara bank account number?
canara bank does not have website facility to find the 13 digit account number. Best thing is to contact the branch itself or if other branches of canara bank who will mostly oblige
To find out your balance on a savings account at a bank which measurements must be accurate?
The number of times interest is calculated for your account Total in your account Interest rate
How does one go about finding a high interest savings account?
For one to find a high interest savings account, check with local banks. Every bank has different interest rates find one that best suits the customer and set up a account.
How can I find a bank that gives you money?
You can find a bank that gives you money by opening a savings or checking account with a bank that offers interest on your deposits. Look for banks that have competitive interest rates and low fees to maximize the money you can earn.
Where can a person find the highest CD interest rates?
To find the highest CD interest rates you can go to the cdrates.bankrate website. You can also contact the company or bank you have your account with.
Where to find an interest calculator online?
You can find an interest calculator by logging into your bank account. Once you are logged in you will be able to find various tools to help you with calculating various aspects of your finances, including an interest calculator.
Where can one find information on how to open a checking account?
A local bank is the very best place to find information on how to open a checking account. Each bank has different incentives, interest rates and promotions. Some banks will even offer a gift card for opening an account.
Where can you find a high interest savings account?
A few places that offer high interest savings accounts are American Express, Ally Bank, Regions Bank, Citi Bank, Discover Bank, and Trust Bank. Most require a minimum balance to be eligible.
Where would one find interest rates for a money market account?
To find money market account interest rates, one would have to contact a bank or broker. That would be the best way to get the best rates currently in effect.
Where's the best place to start a savings account?
The best place to start a savings account would be any bank closest to you. And find the bank with the highest interest rate. There's also a website called BankRate which you can use to find the best bank in your area.
How can I find out my bank account number?
To find your bank account number, you can check your bank statement, online banking account, or contact your bank directly for assistance.
Where is the best place to find a high interest savings account?
There are very few banks with high interest savings account. At best you can get an account with abotu 1% to 2% interest. Ally bank offers accounts and CDs with these rates and at times have specials for 5% lock in rates.
How can I find my bank account information?
You can find your bank account information by checking your bank statement, logging into your online banking account, visiting your bank in person, or contacting your bank's customer service.
