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If the 5% is yearly, and it is compounded monthly, that means that the monthly interest rate is 5/12 percent. In this case, the base factor, in the formula for compound interest, is 1 + 5/1200. After one year (12 monthly periods), the capital would be 200000 x (1 + 5/1200)12. If you want to invest the money for two years (24 months), replace the exponent 12 by 24, etc.
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Earn +20 ptsQ: How much would 200000 invested at 5 percent interest compounded monthly be?
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150 if invested for three years at a 9 percent interest rate?
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
How much would 200 invested at 7 percent interest compounded monthly be worth after 5 years?
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How much would 200 invested at 8 percent interest compounded monthly be worth after 6 years?
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