Also, I have to use the formula: Use the compound interest formula A = P (1 + i)n, where A is the accumulated amount, P is the principal, i is the interest rate per year, and n is the number of years.
Compounded annually: 2552.56 Compounded monthly: 2566.72
1257
Interest = 2472
With simple interest, it is 1.5% per month. If compounded, it is 1.389% approx.
It is approx 77393.69 units of currency.
year
It is 0.833... recurring % if the interest is simple, or compounded annually. If compounded monthly, it is approx 0.797 %
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
Compounded annually: 2552.56 Compounded monthly: 2566.72
It depends on when it's compounded. Left alone and compounded annually, the total is 441.87.
1257
Interest = 2472
With simple interest, it is 1.5% per month. If compounded, it is 1.389% approx.
500 invested for 5 years at 7% interest compounded annually becomes 701.28
It is approx 77393.69 units of currency.
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
How much would $500 invested at 9% interest compounded annually be worth after 4 years? 705.79