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July 31, 2014

July 31, 2014

Posted by **Abb** on Sunday, July 8, 2012 at 12:58am.

- Math -
**Gaurav**, Sunday, July 8, 2012 at 1:06amNew Value of account= $5000*(1+12/100)^5

= $8811.7

- Math -
**Steve**, Sunday, July 8, 2012 at 6:19amThat is the amount compounded annually.

Compounded monthly you get

5000(1+.12/12)^(12*5) = 9083.43

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