Given an initial balance of 17000, an interest rate of 9%, and time of 1

Calculate the Accumulated Balance using Simple Interest:

Accumulated Value formula

AV = Principal * (1 + (int. rate * time))

Plug in our values

AV = 17000 * (1 + (0.09 * 1))

Simplify

AV = 17000 * (1 + 0.09)

AV = 17000 * 1.09

Calculate the total interest earned:

Total Interest Earned = Accumulated Value - Principal

Total Interest Earned = 18530 - 17000

Total Interest Earned = 1530

Calculate the interest earned:

Interest per Period =

Interest Earned

t

Interest per Period =

1530

1

Interest per period = 1530

Final Answer

Accumulated Value using Simple Interest = 18530

What is the Answer?

Accumulated Value using Simple Interest = 18530

How does the Simple and Compound and Continuous Interest Calculator work?

Free Simple and Compound and Continuous Interest Calculator - Calculates any of the four parameters of the simple interest formula or compound interest formula or continuous compound formula
1) Principal
2) Accumulated Value (Future Value) 3) Interest 4) Time. This calculator has 4 inputs.

What 3 formulas are used for the Simple and Compound and Continuous Interest Calculator?

Accumulated Value = Principal * (1 + (interest rate * time)) Accumulated Value = Principal x (1 + interest rate)^{time} Accumulated Value = Pe^{rt}

What 5 concepts are covered in the Simple and Compound and Continuous Interest Calculator?

accumulated value

The total value of an investment, including principal and interest accrued

future value

the value of a current asset at a future date based on an assumed rate of growth

interest

payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at a particular rate

principal

The amount borrowed on a loan, before interest is charged