the future value of $5,000 in a bank account for 10 years at 5 percent compounded bimonthly?
Compounded annually: 2552.56 Compounded monthly: 2566.72
5000 x (1.06)5 = 5000 x 1.338 = 6691.13
It depends how the interest is calculated. If it's compounded, your initial 500 investment would be worth 638.15 after 5 years.
It means that at the end of every month, (7/12) of 1 percent of the lowest value of your account during the previous month is added to it.
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.
Compounded annually: 2552.56 Compounded monthly: 2566.72
It is 712.97
$5,052.22
1862
7-3/4 percent compounded quarterly = 1.9375 percent paid each period. 7-1/2 years = 30 periods The future value of $1 = (1.019375)30 = $1.77836 (rounded) The future value of $5,200 = (5,200 x 1.77836) = $9,247.46
$1480.24
Wow! Where can we get some of that 11.75% ?!?The future value is 5,800 x (1.1175)30 = 162,500.22 (rounded)
Assuming the interest is compounded annually, the future value is 100*(1.04)10 = 100*1.4802 (approx) = 148.02
Assuming interest is added at the end of the year, the future value is 13,710.59
39,337.20
138645
1000 x (1.025)8 which is $1218.40.