WebJul 25, 2016 · Amount in compound interest = p (1 + r/t)^nt where p is the initial deposit, r = rate, t = number of compunding in a period and n = period. Here, Amount after 20 years = 100 (1 + (6/100)/12)^ (20 x 12) = 100 (1 + 0.06/12)^240 = 100 (1 + 0.005)^240 = 100 (1.005)^240 =100 (3.31020) = $331.02 Advertisement Advertisement WebMay 1, 2024 · Find the simple interest earned after 3 years on $6,510 at an interest rate of 2.85%. Find the simple interest earned after 8 years on $15,500 at an interest rate of …
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WebJun 7, 2024 · How much would $150 invested at 8% interest compounded continuously be worth after 17 years? Algebra. 1 Answer Nallasivam V Jun 7, 2024 #A-# Amount after 17 years is #=$.555# Explanation: Amount invested #P=$.150# Interest #r=8% = 0.08# Duration #n=17# years. #A-# Amount ... WebSep 4, 2024 · $6,500 into a five-year variable rate investment earning 4.83% compounded semi-annually for the first 2½ years and 6.5% compounded monthly for the remainder. ibn18 news
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WebContinuous Compound Interest Calculator Directions: This calculator will solve for almost any variable of the continuously compound interest formula. So, fill in all of the variables except for the 1 that you want to solve. This calc will solve for A (final amount), P (principal), r (interest rate) or T (how many years to compound). WebThe compound interest formula states that if P dollars are invested at an annual interest rate of r, compounded n times per year, then A, the amount of money present after ryears, is given by A = P (1+ nr)n. Using this formula, determine how long is wil take for $13,500 to double if it is invested at 6.5% compounded monthly? WebApr 1, 2024 · If you got an average 6% return the following year, it means your investment would be worth $11,236. Over the years, that money can really add up: If you kept that … ibm zurish research