13% daily is worse than any loan shark!
Suppose it takes n days, then
38500 = 19000*(1 + 13/100)n= 19000*(1.13)n
So 38500/19000 = 1.13n
ln(38500/19000) = n*ln(1.13)
so that n = ln(38500/19000) / ln(1.13) = 5.78
So 6 days.
3000
14.651
At 8% per month, compounded, it will take just 1.2 years. However, with monthly interest such that its annual compounded equivalent is 8% (roughly 0.64% each month), it will take 14.27 years.
We still need to know how often the interest is compounded ... Weekly ? Daily ? Hourly ? What does "continuous" mean ?
If compounded, interest = 81.244 and balance = 456.245 If not compounded, interest = 75 and balance = 450
If the interest is simple interest, then the value at the end of 5 years is 1.3 times the initial investment. If the interest is compounded annually, then the value at the end of 5 years is 1.3382 times the initial investment. If the interest is compounded monthly, then the value at the end of 5 years is 1.3489 times the initial investment.
It depends how the interest is calculated. If it's compounded, your initial 500 investment would be worth 638.15 after 5 years.
Interest = 2472
$44,440.71
$1480.24
3000
11 years
At 8% per month, compounded, it will take just 1.2 years. However, with monthly interest such that its annual compounded equivalent is 8% (roughly 0.64% each month), it will take 14.27 years.
If the interest is compounded annually, then the first interest payment isn't added until the end of the first year. Until then, the investment is worth exactly $15,000.00 .
14.651
Total value = 20000*(1.06)2 = 22472 So interest = 2472
(1 + .07/4)4x = 3 4x log(1+.07/4) = log(3) x = 0.25 log(3)/log(1.0175) = 15.83 The amount of the original investment doesn't matter. At 7% compounded quarterly, the value passes triple the original amount with the interest payment at the end of the 16th year.