How much would $500 invested at 8% interest compounded annually be worth after 4 years round your answer to the nearest cent?
Final answer:
Final answer:
The investment would be worth approximately $1115.50 after 3 years.
Expert-Verified Answer
The value of $500 invested at 7% interest compounded annually after 4 years is approximately $610.09.
The worth of $200 invested at 4% interest compounded monthly after 8 years would be $275.28.
Answer. In this case, the principal amount (P) is $500, the interest rate (r) is 4% or 0.04 (as a decimal), and the time period (t) is 10 years. Therefore, $500 invested at a 4% interest rate compounded continuously would be worth approximately $745.91 after 10 years, rounded to the nearest cent.
The future value of $500 invested at 8 percent for five years Future value $500 * (1+ 0.08) ^5 Future Value = $734.66 c.
Answer & Explanation
The future value of $500 invested at 8 percent for 1 year is $540. The formula to calculate future value is: FV = PV * (1 + r)^t where PV is the present value ($500), r is the interest rate (8 percent), and t is the number of years (1).
5832∴ C.I. = A - P = Rs. 5832 - 5000= Rs. 832 (c)
Answer and Explanation: The future value of a $1000 investment today at 8 percent annual interest compounded semiannually for 5 years is $1,480.24.
We will use the Rule of 72 to find the approximate number of years to double this investment: Years = 72 / Percent interest rate. Years = 72 / 4. Years = 18.
How much would $150 invested at 8% compounded continuously be worth after 17 years?
Hence, if $\$ 150$ is invested at $8\% $ interest compounded continuously then its worth after 17 years will be $ \$ 555 $. Thus, this is the required answer. Note: In this question we have used the formula of Compound Interest.
For example, if an investment scheme promises an 8% annual compounded rate of return, it will take approximately nine years (72 / 8 = 9) to double the invested money.
When Andy tells the town council how much the town of Mayberry owes Frank Myers, he says the amount is $349,119.27. This is the exact amount, to the penny, that would be owed on a $100 bond accruing 8.5% interest compounded annually over 100 years.
Expert-Verified Answer
To calculate the future value of a continuously compounded investment, use the formula A = P * e^(rt) and plug in the given values. The investment of $500 at 5% interest would be worth approximately $663.60 after 8 years.
Question 854925: Please help -Find the balance in an account after 8 years if $500 is invested at 7% interest compounded annually. (Show Source): You can put this solution on YOUR website! 500*1.718=$859.09 ans.
where FV is equal to future value, PV is equal to present value, r is equal to interest rate per period, and t is equal to time. Therefore, the future equivalent of $500 invested at 8% simple interest per year for 2 1/2 years is $600. where I is equal to interest and P is equal to the principal amount.
| Rate of return | 10 years | 30 years |
|---|---|---|
| 4% | $72,000 | $336,500 |
| 6% | $79,000 | $474,300 |
| 8% | $86,900 | $679,700 |
| 10% | $95,600 | $987,000 |
Expert-Verified Answer
To reach $7,500 with an 8% interest rate, it would take approximately 9.7 years. Using a calculator, we find that time is approximately 9.7 years.
| Years Invested | Balance At the End of the Period |
|---|---|
| 10 | $102,422 |
| 20 | $379,684 |
| 30 | $1,130,244 |
| 40 | $3,162,040 |
The rate of inflation can vary from year to year, and it's difficult to predict exactly how much a million dollars will be worth in 30 years. However, using the average inflation rate over the past 30 years, which is around 2% per year, a million dollars today would be worth approximately $564,000 in 30 years.
What is the future value of $800 at 8% after 6 years?
The future value of $800 at 8 percent after six years equals $1,269.50. Where, PV = Present value = $800. i = interest rate = 8%
Investing $100 per month, with an average return rate of 10%, will yield $200,000 after 30 years. Due to compound interest, your investment will yield $535,000 after 40 years. These numbers can grow exponentially with an extra $100. If you make a monthly investment of $200, your 30-year yield will be close to $400,000.
8000Period (n) = 2 yearsRate (R1)=9% for the first yearR2=10% the second year∴ Amount (A)= P (1+R1100)1(1+R2100)1=8000 (1+9100) (1+10100)=Rs. 8000×109100×110100=Rs. 9592.
10000 by compound interest at 8% rate for 2 years, when compounded annually? The amount is ₹ 11664.
After 2 years amt will be 10000×(1.1)^2=12100,and after 2 years 3months it will be 12100×(1+. 3/12)=12100×1.025=12402.50,so compound interest for the period is Rs. 402.50.
