Posted by Anna on Thursday, February 18, 2010 at 4:11pm.
Can someone please help me solve these problems or help me find an easy formula?..No matter how many times I read or try calculating I can't get it please help me..I would really appreciate it thank you..
Calculate the future value of the following:
$5,000 compounded annually at 6% for 5 years
$5,000 compounded semiannually at 6% for 5 years
$5,000 compounded quarterly at 6% for 5 years
$5,000 compounded annually at 6% for 6 years
- Finances and Math - Reiny, Thursday, February 18, 2010 at 5:11pm
I will do this one:
"$5,000 compounded quarterly at 6% for 5 years"
Amount = 5000(1.015)^20
notice the value of i is .06/4 (compounded quarterly)
and n = 5*4 = 20, the number of quarter years.
Do the others the same way
- Finances and Math - Anna, Thursday, February 18, 2010 at 5:13pm
Thank you Reiny
- Finances and Math - Anna, Thursday, February 18, 2010 at 5:17pm
How did you get 1.015?
- Finances and Math - carolness, Monday, October 25, 2010 at 10:41am
A small computer software company invests $5000 at 10% compounded semiannually for 2 years. What will the compound amount be at the end of this period?
- Finances and Math - Fred, Wednesday, April 10, 2013 at 9:22am
- Finances and Math - priscilla, Saturday, March 28, 2015 at 3:40am
how much would 1000 in an account paying 14 percent interest compounded semi annually accumulate to in 10 years
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