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# What is the future value of 10000 dollars with 5 percent interest in 7 years?

454647 ###### 2006-05-24 19:56:13

The future value (FV) of \$10,000 at 5% interest for 7 years follows the following formula: 10,000 (1+.05)^7 = 10,000 * 1.41 = \$14,100

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## Related Questions The value today, of 10,000 dollars from 1948 will be about 99,500 dollars. This is estimated at an interest rate of three and a half percent. To calculate the interest gained on something, a simple formula is used. Initial value x (percentage increase as a decimal)^years So: 10000 x 1.05^15 = 20789.28 (2d.p). Using the compound interest formula which states A = P (1 + r/n)nt. We get the following result:10000 ( 1 + .095/4)4(4)10000 (1 + 0.02375) 1610000 (1.02375) 1610000 (1.45580)\$14558Therefore you earn approximately \$4558.00 on a CD yielding a 9.5% interest rate for 4 years. I'll do it both ways since you do not specify whether it is simple of compound interest. FV = P + PRT 10000 = P + P(.03)(20) 10000 = P(1 + 0.60) 10000 = 1.6P 6250 = P Check 6250 * .03 * 20 = 3750 + 6250 = 10000 ◄ FV = P + P(1+R)T 10000 = P + P(1.03)20 10000 = P + P(1.80611) 10000 = 2.80611*P 3563.65 = P Check 3563.25 + 3563.25(1.03)20 3563.25 + 3563.25*1.80611 3563.25 + 6436.35 9999.70 (Rounding error) ◄ The formula to calculate interest is as follows: Interest = Principal * No. of years * Rate of Interest / 100 So Interest = 10000 * 0.5 * 8 / 100 = 400/- The interest you will receive interest at the end of the 6 month period is Rs. 400/-

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