What would 5 percent interest be on 18000 for 10 years?

Answer 1

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