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
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!
Interest = 2472
11 years
If the interest is compounded annually, then the first interest payment isn't added until the end of the first year. Until then, the investment is worth exactly $15,000.00 .
Approx 44.225 % The exact value is 100*[3^(1/3) - 1] %
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!
It might just be 10%.
It is 52936.72
8.0432 years (rounded) if compounded annually.
Interest = 2472
11 years
If the interest is compounded annually, then the first interest payment isn't added until the end of the first year. Until then, the investment is worth exactly $15,000.00 .
Assuming interest is compounded annually, 1000*(1.08)5
Approx 44.225 % The exact value is 100*[3^(1/3) - 1] %
Answer: 9.1% At 8.5% principal grows by (1+(.085/12))^12 = 1.0884 times in one year which is less than investing at 9.1%.
Left alone, that investment would be worth 705.79 after four years.
Only if the 1% per month is compounded annually and not monthly.