How much is 3000 worth after 3 Annuallys using an annual interest rate of 5.6% compounded Annually?
How much is 3000 worth after
using an annual interest rate of 5.6%
Calculate Accumulated Balance A = B(1 + i) n where A = accumulated balance B = opening balance i = Annually interest rate and n = number of periods Plugging in our values
A = 3000(1 + 0.056)
A = 3000(1.056)
A = 3000(1.177583616)
3,532.75 How much interest was earned? Interest Earned = Accum. Value - Start Balance Plug in our values
Interest Earned = 3,532.75 - 3,000.00
Interest Earned =
532.75 See Answer
What is the Answer?
3,532.75 Interest Earned = 532.75
How does the Compound Interest Accumulated Balance Calculator work?
Free Compound Interest Accumulated Balance Calculator - Given an interest rate per annum compounded annually (i), semi-annually, quarterly, monthly, semi-monthly, weekly, and daily, this calculates the accumulated balance after (n) periods
This calculator has 3 inputs.
What 1 formula is used for the Compound Interest Accumulated Balance Calculator?
What 5 concepts are covered in the Compound Interest Accumulated Balance Calculator?
compound interest the interest you earn on principal and interest A = (1 + r/n) nt compound interest accumulated balance interest rate the proportion of a loan that is charged as interest to the borrower or proportion of principal credit given to a depositor principal The amount borrowed on a loan, before interest is charged yield How much an investment returns in terms of interest rate
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