How much is 8000 worth after 10 Annuallys using an annual interest rate of 7.5% compounded Annually?

How much is 8000 worth after
10 years
using an annual interest rate of 7.5%
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 = 8000(1 + 0.075)¹⁰
A = 8000(1.075)¹⁰
A = 8000(2.0610315621647)
A = 16,488.25

How much interest was earned?

Interest Earned = Accum. Value - Start Balance

Plug in our values

Interest Earned = 16,488.25 - 8,000.00
Interest Earned = 8,488.25

What is the Answer?

A = 16,488.25
Interest Earned = 8,488.25

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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