accumulated value

A grandmother deposited $5,000 in an account that pays 8% per year compounded annually when her granddaughter was born. What will the value of the account be when the granddaughter reaches her 16th birthday? We have the accumulation function A(t) = 5,000(1.08)^t. For t = 16, we have: A(16) =...

Dave has a savings account that pays interest at 3 1/2% per year. His opening balance for May was $1374.67. He did not deposit or withdraw money during the month. The interest is calculated daily. How much interest did the account earn in May? First, determine n, which is 31, since May has 31...

Your grandma gives you $10,000 to invest for college. You get an average interest rate of 5% each year. How much money will you have in 5 years? Using our accumulated balance calculator, we get: 12,762.82

A person places $230 in an investment account earning an annual rate of 6.8%, compounded continuously. Using the formula V = Pe^{rt}V=Pe^rt, where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest...

Kevin borrowed $8000 at a rate of 7.5%, compounded monthly. Assuming he makes no payments, how much will he owe after 10 years? We want to find 8,000(1.075)^10 Using our balance calculator, we get: $16,488.25

$150,000; 7%; 25 yr ordinary annuity formula Answer for PV and AV

If 5000 dollars is invested in a bank account at an interest rate of 10 per cent per year, find the amount in the bank after 9 years if interest is compounded annually. We assume the interest is compounded at the end of the year. Use the annuity immediate formula: 67,897.39