Using excel FV function all added monies & interest paid @ end of period 5000 invested @ 8% /year for 30 yr no additional monies 50,313.28 with 5000 added end of each year 662,042.62 with 5000/12 added end of each month 679,801.64 with 5000/24 added twice a month 680,679.68
You will have 5000 dollars × (1 + 8/100)18 = 19,980 dollars.
You will have 1903.737 dollars in your account at the end of 13 years. The year wise end balance will be:756816.48881.798952.3421028.531110.8121199.6771295.6511399.3031511.2471632.1471762.7191903.737This is under the assumption that you don't deposit any fresh funds into your account and initial 700 dollars + the accumulated interest is all that is available in the account.
4000 x (1.0610) = $7163.39
Annual interest calculates how much is in the bank at the time of compounding, then adds the percentage of interest. In this case, every year after the first slightly more than 8 percent of the 4 thousand initial deposit. In this particular case, at the end of the sixth year, you would have 6,347 dollars and 50 cents.
$280.51
4 years exactly.
The amount in the account would be 22432.59 but only any rounding of fractional parts was carried out only at the end and according to mathematical rules. More likely, fractional parts would be truncated as you went along and you would end up with 22431.28
If the interest is compounded annually, then the first interest payment isn't added until the end of the first year. Until then, the investment is worth exactly $15,000.00 .
It is 3884.97 dollars.
39,337.20
-24
Simple interest compounded annually and reinvested will yield 619173.64 before taxes.