This is called the future value of the investment and is calculated with the following formula. 5000 dollars is deposited in an account P 5000. Where CI Compounded interest.
N Number of compounding periods per year.
P the principal investment amount the initial deposit or loan amount r the annual interest rate decimal n the number of times that interest is compounded per unit t. T number of years for which investment is done 3 years. Solving for t in compound interest equation this is not an assignment for school but a question that i wondered upon myself. A 5000 1 010 1 13.