How much is 30000 worth after72 quarters
using an annual interest rate of 4.5%
compounded quarterly?
Calculate effective interest rate
There are 4 quarters in a yearConvert interest rate to quarterly
| Quarterly Interest = | Annual Interest Rate |
| Compounding Periods |
| Quarterly Interest = | 0.045 |
| 4 |
Quarterly Interest = 0.01125
Calculate Accumulated Balance
A = B(1 + i)nwhere A = accumulated balance
B = opening balance
i = Quarterly interest rate
and n = number of periods
Plugging in our values
A = 30000(1 + 0.01125)72A = 30000(1.01125)72
A = 30000(2.2377650810351)
A = 67,132.95
How much interest was earned?
Interest Earned = Accum. Value - Start BalancePlug in our values
Interest Earned = 67,132.95 - 30,000.00Interest Earned = 37,132.95
A = 67,132.95
Interest Earned = 37,132.95
You have 1 free calculations remaining
What is the Answer?
A = 67,132.95
Interest Earned = 37,132.95
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?
What 5 concepts are covered in the Compound Interest Accumulated Balance Calculator?
compound interestthe interest you earn on principal and interestA = (1 + r/n)ntcompound interest accumulated balanceinterest ratethe proportion of a loan that is charged as interest to the borrower or proportion of principal credit given to a depositorprincipalThe amount borrowed on a loan, before interest is chargedyieldHow 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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