5000 x (1.06)5 = 5000 x 1.338 = 6691.13
Compounded annually: 2552.56 Compounded monthly: 2566.72
the future value of $5,000 in a bank account for 10 years at 5 percent compounded bimonthly?
"Compounded continuously" is a meaningless phrase ... we hope your bank or broker didn't quote it to you that way. In order to calculate a future value, you absolutely have to know how often the compounding takes place ... annually, daily, hourly, etc. ? The best compounding you're going to see is 'daily', so let's do it that way. If the actual compounding is any less frequent than 'daily', the actual value will be less than what we're about to calculate: 5 percent annual interest rate = (5/365) = 0.0136986 percent daily (rounded). (1.000136986)(365 x 8) = 1.4917838 (rounded) That's the value of $1 invested at 5% compounded daily for 8 years. Your $500 would become ($500 x 1.4917838) = $745.89
Assuming interest is paid annually, 100000*(1.05)10 = 162889.46
It depends how the interest is calculated. If it's compounded, your initial 500 investment would be worth 638.15 after 5 years.
Compounded annually: 2552.56 Compounded monthly: 2566.72
39,337.20
Assuming interest is added at the end of the year, the future value is 13,710.59
Wow! Where can we get some of that 11.75% ?!?The future value is 5,800 x (1.1175)30 = 162,500.22 (rounded)
Simple interest compounded annually and reinvested will yield 619173.64 before taxes.
Assuming the interest is compounded annually, the future value is 100*(1.04)10 = 100*1.4802 (approx) = 148.02
the future value of $5,000 in a bank account for 10 years at 5 percent compounded bimonthly?
3232x0.055x10=1777.6 that is how much you would make and to find out how much you now have is 3232+1777.60=509.6 hope this is right!
Total (compound interest) = p (r + 1)^ t, so plug in the numbers. 3497(1.075)^15 = 10347.1941. You can round that to 10347.19.
$5,052.22
It is 712.97
1862