Posted by **Help** on Tuesday, April 19, 2011 at 9:39am.

(Future Value) Suppose you invest $8000 into an account that pays an annual interest rate of 6.2%. How much is in the account after 30 years if

a. simple interest is compound monthly?

b. interest is compounded monthly?

c. interest is compounded daily?

- Compound math -
**Tim**, Friday, July 27, 2012 at 7:46pm
P*(1+i)* Exponent which is time invested

$8000x(1+.o62)30

$8000 x ((1 + .062)^30) = $48,621.1794 U.S. dollars

- Compound math -
**paul**, Wednesday, November 7, 2012 at 5:05pm
$24,000 is invested for 5 years with APR of 2% in daily compounding.What is the balance in account after 5 years?

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