Q: What will be the accumulated amount if you invest 38300 for 7 years at 9 percent compounded monthly?

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6% of 31 500 is 1890. Thus, you would have 33390 after a month. If you're asking how much would be gained per month if you compounded at a rate of 6% annual interest rate each month, use the formula: A = 31500(1.005)t where t is the number of months, and A is the accumulated amount.

£765.31

If the annual equivalent rate of interest is 8.5 percent then it makes no difference how frequently it is compounded. The amount will grow to 9788.81 On the other hand 8.5 percent interest daily is equivalent to 8.7 trillion percent annually! If my calculation is correct, after 6 years the amount will have grown to 2.85*10198 (NB 10200 = googol squared).

The formula to calculate the present amount including compound interest is A = P(1 + r/n)nt , where P is the principal amount, r is the annual rate expressed as a decimal , t is the number of years, and n is number of times per year that interest is compounded. Then A = 2100(1 + 0.045/12)(12 x 3) = 2100 x 1.0037536 = 2402.92 The amount of interest earned = 2402.92 - 2100 = 302.92

13468.02

Related questions

No. The loss would normally be compounded so it would amount to 71.8%

6% of 31 500 is 1890. Thus, you would have 33390 after a month. If you're asking how much would be gained per month if you compounded at a rate of 6% annual interest rate each month, use the formula: A = 31500(1.005)t where t is the number of months, and A is the accumulated amount.

7445

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.

£765.31

Invest at an amount of 200000 at a bank that offers an interest rate of 7,6%p.a Compounded annually for a period of 3 years

$44,440.71

The amount required is 7641.49

If the annual equivalent rate of interest is 8.5 percent then it makes no difference how frequently it is compounded. The amount will grow to 9788.81 On the other hand 8.5 percent interest daily is equivalent to 8.7 trillion percent annually! If my calculation is correct, after 6 years the amount will have grown to 2.85*10198 (NB 10200 = googol squared).

There is no such thing as "compounded continuously". No matter how short it may be, the compounding interval is a definite amount of time and no less.

$491

To calculate compound interest: final_value = (1 + rate/100)periods x amount So for amount = 2000, at a rate = 6% per year over a period of 35 years you get: final_value = (1 + 6/100)35 x 2000 = 1.0635 x 2000 ~= 15372.17