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How much the amount will be after three years if deposited $500 per month for three years @4%per annuam. kindly show me the calculation formula also.

 Oct 4, 2015
 #1
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How much the amount will be after three years if deposited $500 per month for three years @4%per annuam. kindly show me the calculation formula also.

 

This is if you put the money in at the end of each month.

 

C=500

i= 0.04/12=0.00333333333333333

n=3*12=36

 

You can do the substitution yourself.

 Oct 4, 2015
 #2
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If you deposit $500 per month for 36 months @ 4% compounded monthly, then at the of three years you will have accumulated a total of $19,090.78.

 Oct 4, 2015

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