the equation for compound interest is Pe^(rt)
the principal you want in the end is twice that of the original
12,000
plugging in and solving you get
12,000=6000e^(.13t)
t = 5.33 years
479.26 needs to be invested to get to 2450 after 20 years at 8.5% compound interest.
I suspect that it will be 6.3!
To calculate the future value of an investment compounded continuously, you can use the formula ( A = Pe^{rt} ), where ( A ) is the amount of money accumulated after time ( t ), ( P ) is the principal amount (initial investment), ( r ) is the annual interest rate, and ( t ) is the time in years. Without a specific interest rate, I cannot provide an exact value. However, if you have an interest rate, you can plug it into the formula to find the future value after 3 years.
If the rate is 10% interest on a $20,000 loan for two years, interest will be $4,428.06 if compounded continuously. If compounded annually, it would be $4,200.
48.51 years, approx.
It is approx 8.66%
is given by the formula A = Pe^rt
10001/999900
479.26 needs to be invested to get to 2450 after 20 years at 8.5% compound interest.
"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?
I suspect that it will be 6.3!
To calculate the future value of an investment compounded continuously, you can use the formula ( A = Pe^{rt} ), where ( A ) is the amount of money accumulated after time ( t ), ( P ) is the principal amount (initial investment), ( r ) is the annual interest rate, and ( t ) is the time in years. Without a specific interest rate, I cannot provide an exact value. However, if you have an interest rate, you can plug it into the formula to find the future value after 3 years.
If 1500 dollars is invested at an interest rate of 3.5 percent per year compounded continuously, after 3 years it's worth $1666.07, after 6 years it's $1850.52, and after 18 years it's worth $2816.42.
At the end of the year the interest is deposited in the account. The next year the interest is figured on the principal plus last year's interest.
If you opened a savings account and deposited 5000 in a six percent interest rate compounded daily, then the amount in the account after 180 days will be 5148.
If the rate is 10% interest on a $20,000 loan for two years, interest will be $4,428.06 if compounded continuously. If compounded annually, it would be $4,200.
48.51 years, approx.