Enter 3 out of 4 below
Given an initial balance of 300,
an interest rate of 4%,
and time of 26
Calculate the Accumulated Balance using Compound Interest:
Accumulated Balance Formula
Accumulated Value = Principal x (1 + i)time
Plug in our values
Accumulated Value = 300 x (1 + 0.04)26
Accumulated Value = 300 x (1.04)26
Accumulated Value = 300 x 2.7724697847469
Calculate the total interest earned:
Total Interest Earned = Accumulated Value - Principal
Total Interest Earned = 831.74 - 300
Total Interest Earned = 531.74
Calculate the interest earned:
| Interest per Period = | Interest Earned |
| t |
| Interest per Period = | 531.74 |
| 26 |
Interest per period = 20.451538461538
Final Answer
Accumulated Value using Compound Interest = 831.74
