APR stands for annual percentage rate. That being the case, it does not matter whether the interest is compounded every day or every millisecond. The effect, at the end of a year is interest equal to 2.25 percent. So, 2000 at 2.25 percent compounded, for 4 years = 2000*(1.0225)4 = 2000*1.093083 = 2186.17
Compounded, it is 419.22Compounded, it is 419.22Compounded, it is 419.22Compounded, it is 419.22
8029.35
10412.5
[(1.08)^14] times 125 = 367.15
APR stands for annual percentage rate. That being the case, it does not matter whether the interest is compounded every day or every millisecond. The effect, at the end of a year is interest equal to 2.25 percent. So, 2000 at 2.25 percent compounded, for 4 years = 2000*(1.0225)4 = 2000*1.093083 = 2186.17
compounded annually--$43,219 compounded quarterly--$44,402 compounded monthly-- $44,677 compounded daily--$44,812
the future value of $5,000 in a bank account for 10 years at 5 percent compounded bimonthly?
Compounded, it is 419.22Compounded, it is 419.22Compounded, it is 419.22Compounded, it is 419.22
$10,000 times (1.1)3 = $13,310
8029.35
10412.5
If the interest is simple interest, then the value at the end of 5 years is 1.3 times the initial investment. If the interest is compounded annually, then the value at the end of 5 years is 1.3382 times the initial investment. If the interest is compounded monthly, then the value at the end of 5 years is 1.3489 times the initial investment.
"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?
[(1.08)^14] times 125 = 367.15
Compounded annually: 2552.56 Compounded monthly: 2566.72
It depends on when it's compounded. Left alone and compounded annually, the total is 441.87.