Assuming interest is compounded annually,
1000*(1.08)5
Value = 150*(1.09)3 = 150*1.295 = 194.25
14.2 years
$716.66 The formula is Principal times e to the rate times time power. Future Value = PeYr
To calculate the future value of an investment compounded monthly, you can use the formula: ( A = P(1 + \frac{r}{n})^{nt} ), where ( A ) is the amount of money accumulated after n years, including interest; ( P ) is the principal amount ($200); ( r ) is the annual interest rate (0.05); ( n ) is the number of times that interest is compounded per year (12); and ( t ) is the number of years the money is invested (9). Plugging in the numbers, the future value will be approximately $319.84 after 9 years.
300 :D
Value = 150*(1.09)3 = 150*1.295 = 194.25
72
500 invested for 5 years at 7% interest compounded annually becomes 701.28
74 or 75 years
14.2 years
$5,052.22
$716.66 The formula is Principal times e to the rate times time power. Future Value = PeYr
To calculate the future value of an investment compounded monthly, you can use the formula: ( A = P(1 + \frac{r}{n})^{nt} ), where ( A ) is the amount of money accumulated after n years, including interest; ( P ) is the principal amount ($200); ( r ) is the annual interest rate (0.05); ( n ) is the number of times that interest is compounded per year (12); and ( t ) is the number of years the money is invested (9). Plugging in the numbers, the future value will be approximately $319.84 after 9 years.
300 :D
$5,249.54
556.34
$14,693.28