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It depends how the interest is calculated. If it's simpleinterest, the initial 18,000 would increase by 900 per year - doubling the original sum to 27,000. If it's compoundinterest, the interest each year is applied to the wholeamount, including the interest earned the previous year. Therefore - the value at the end of each year would be...
1 - 18900.00
2 - 19845.00
3 - 20837.25
4 - 21879.11
5 - 22973.07
6 - 24121.72
7 - 25317.81
8 - 26594.20
9 - 27923.91
10 - 29320.10
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Earn +20 ptsQ: What would 5 percent interest be on 18000 for 10 years?
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How many years would it take for money to triple in value at 20 percent per year simple interest?
10 years. Compound interest would take 7 years.
How much would 2000 become in 10 years at 5 percent interest?
If it is not compounded the interest would be 2000x10x.05=1000 If it is compounded then it is different.
Invest 10000 at 5 percent annual interest how much would you have in 3 years?
You will have $11576.25
Kevin wants to know how much simple interest he would make in five years on the amount of 250.25 at 5.4 percent interest?
67.57
What is the interest on 600 at 12 percent for 2 years?
Simple interest: 144Compound interest: 152.64
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