How much is 6000 worth after 4.5 Annuallys using an annual interest rate of 3% compounded Annually?

How much is 6000 worth after
4.5 years
using an annual interest rate of 3%
compounded annually?

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 = 6000(1 + 0.03)^4.5
A = 6000(1.03)^4.5
A = 6000(1.1422666868246)
A = 6,853.60

How much interest was earned?

Interest Earned = Accum. Value - Start Balance

Plug in our values

Interest Earned = 6,853.60 - 6,000.00
Interest Earned = 853.60

What is the Answer?

A = 6,853.60
Interest Earned = 853.60

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?

B_{n_{= B_{n - 1_{(1 + i)

For more math formulas, check out our Formula Dossier}}}}

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

Example calculations for the Compound Interest Accumulated Balance Calculator

Compound Interest Accumulated Balance Calculator Video

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