Finances and Math
posted by Anna on .
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
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
Thank you Reiny
How did you get 1.015?
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?
how much would 1000 in an account paying 14 percent interest compounded semi annually accumulate to in 10 years