9078.83
At the end of the first year, 9078.83 @ 12% growth will become 10168.29
end of 2nd year, 10168.29 becomes 11388.48
end of 3rd year, 11388.48 becomes 12755.10
end of 4th year, 12755.10 becomes 14285.71
end of 5th year, 14285.71 becomes 16000 Of course, you can use 'present value' tables, which give a reasonably accurate approximation, but they lack the precision of the actual calculation. The figure can also be calculated by using logarithms. For present value tables. see Related links below this box
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If you're simply adding five percent onto the value at the end of each of the three years - the final value would be 578.8125
43.8 years
"5 percent" means 5 percent per year.30 months = 2.5 years.2.5 times 5 percent = 12.5 percent = 0.1250.125 x 16,000 = 2,000
$5,790
the future value of $5,000 in a bank account for 10 years at 5 percent compounded bimonthly?