3900*.072*3=842.40
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
800 x (1.04)6 ie Rs1012.26
$530.60
$73053.88 when compounded month your yearly rate would be 0.061678% * * * * * True, but in real life the quoted interest rate, "6 percent compounded monthly", should read "an interest rate, such that, if it were compounded monthly, would give an annual equivalent rate of 6 percent". The equivalent of 6% annual is 0.487% monthly since 1.0048712 = 1.06
Future value= 25000*(1.08)10 =53973.12
25000 x (1.02)14 = 32976.97. For comparison, compounded annually would give 25000 x (1.04)7 = 32898.29, not a huge difference but worth having!
4 time periods (eg 4 years if the 5% simple interest were added each year). In simple interest, the interest is added, but attracts no interest itself (that is compound interest) - only the original value attracts the interest: 5% of RM 25000 = RM 1250 added each time RM 30000 - RM 25000 = RM 5000 RM 5000 ÷ RM 1250 = 4 time periods
842.40
3.5
$149.35 per month for 22 years.
3900*.072*3=842.40
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
If you're simply adding five percent onto the value at the end of each of the three years - the final value would be 578.8125
800 x (1.04)6 ie Rs1012.26
$530.60
Simple interest: 144Compound interest: 152.64