How much is 13000 worth after 40 Semi-Annuallys using an annual intere

How much is 13000 worth after 40 Semi-Annuallys using an annual intere Image to Crop

How much is 13000 worth after
40 semi-annual periods
using an annual interest rate of 11%
compounded semi-annual?

Calculate effective interest rate

There are 2 semi-annual periods in a year
Convert interest rate to semi-annual

Semi-Annually Interest =	Annual Interest Rate
	Compounding Periods

Semi-Annually Interest =	0.11
	2

Semi-Annually Interest = 0.055

Calculate Accumulated Balance

A = B(1 + i)ⁿ where A = accumulated balance B = opening balance i = Semi-Annually interest rate and n = number of periods

Plugging in our values

A = 13000(1 + 0.055)⁴⁰
A = 13000(1.055)⁴⁰
A = 13000(8.5133087739763)
A = 110,673.01

How much interest was earned?

Interest Earned = Accum. Value - Start Balance

Plug in our values

Interest Earned = 110,673.01 - 13,000.00
Interest Earned = 97,673.01

A = 110,673.01
Interest Earned = 97,673.01

You have 1 free calculations remaining

What is the Answer?

A = 110,673.01
Interest Earned = 97,673.01

How does the Compound Interest Accumulated Balance Calculator work?

Free Compound Interest Accumulated Balance Calculator - Given an interest rate per annum compounded annually (i), semi-annually, quarterly, monthly, semi-monthly, weekly, and daily, this calculates the accumulated balance after (n) periods
This calculator has 3 inputs.

What 1 formula is used for the Compound Interest Accumulated Balance Calculator?

What 5 concepts are covered in the Compound Interest Accumulated Balance Calculator?

compound interest: the interest you earn on principal and interest
A = (1 + r/n)^nt
compound interest accumulated balance
interest rate: the proportion of a loan that is charged as interest to the borrower or proportion of principal credit given to a depositor
principal: The amount borrowed on a loan, before interest is charged
yield: How much an investment returns in terms of interest rate