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.
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.
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.
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.