Easy Tutorial
For Competitive Exams

If the present value of my investment is $2,500 and the rate of interest is 2% compounded annually, what will the value be after 15 years?

$3,364.67
$3,306.25
$3,250
$3,047.49
Explanation:
Use the formula:
FV = PV × (1 + r)n
Substitute PV = $2,500, r = 2% = 0.02 and n = 15
FV = $2,500 × (1 + 0.02)15 = $2,500 × (1.02)15
= $2,500 × 1.34586...
= $3364.6708...
So the value after 6 years = $3,364.67
Additional Questions

The difference between simple interest and compound on Rs. 900 for one year at 10% per annum reckoned half-yearly is:

Answer

The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:

Answer

A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:

Answer

What will be the compound interest on a sum of Rs. 40,000 after 3 years at the rate of 11 p.c.p.a.?

Answer

At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?

Answer

There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?

Answer

What is the difference between the compound interests on Rs. 5000 for 1$ \dfrac{1}{2} $ years at 4% per annum compounded yearly and half-yearly?

Answer

Find compound interest on Rs.2500 invested at 6% per annually, compound semi-annually for 8 years.

Answer

If the present value of my investment is $2,500 and the rate of interest is 2% compounded annually, what will the value be after 15 years?

Answer
Share with Friends
Privacy Copyright Contact Us