Ask Experts Questions for FREE Help !
Ask
    bluedicius's Avatar
    bluedicius Posts: 20, Reputation: 1
    New Member
    		  
    #1

    Mar 13, 2005, 09:18 AM
    investing
    If I invest $5000 in a savings bond, earning 7% interest per year. What is an equation I could write that would express the compound amount of the bond for any given year? What will the compound amount of the bond be in 5years?

    Thanks
    always_learning's Avatar
    always_learning Posts: 54, Reputation: 2
    Junior Member
    		  
    #2

    Mar 13, 2005, 06:01 PM
    Compound Interest
    Simple as this. Thank you www.about.com

    http://math.about.com/library/blcompoundinterest.htm
    reinsuranc's Avatar
    reinsuranc Posts: 92, Reputation: 6
    Junior Member
    		  
    #3

    Mar 14, 2005, 07:21 AM
    Compound interest
    5000 * (1.07 ^ t)
    5000 * (1.07 ^ 5) = 7012.76
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Investing questions [ 5 Answers ]

I would like to ask on the processes that one follows when you want to make an invest? Also must you be having a lot of money to start investing?and which is the least amount of money you can invest e.g.. In shares

Investing [ 1 Answers ]

which is best to invest in- variable annuities or mutual funds?

Investing [ 2 Answers ]

I need to invest 5,000.00. What type investment will grow fast?

Investing [ 1 Answers ]

How do I find out if old stock certificates are of any value?

Investing [ 5 Answers ]

I want to take the money I have in my 401K plan from where I use to work and place it into something safe until I can find a new Job. Does anyone have any ideas where or who is paying the highest interest rates. Or Which mutual fund should I choose? Thanks, Alicat4790

View more questions Search