Question 744648: i was left an inheritance of 5000.00 and its has accumulated interest at 6% for 33 years how much do i receive? Found 2 solutions by Cromlix, Alan3354:Answer by Cromlix(4381) (Show Source):
You can put this solution on YOUR website! Principal = 5000.00 Simple interest at 6% per annum. Period = 33 years
(5000 x 6) / 100 = 300
300 x 33 years = 9,900.
You can put this solution on YOUR website! i was left an inheritance of 5000.00 and its has accumulated interest at 6% for 33 years how much do i receive?
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You have to spec the compounding period, if any.
compounded annually:
= 5000*1.06^33
= $34202.95
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Compounded monthly:
= 5000*1.005^396
= $36035.49
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Compounded continuously:
= 5000*e^(0.06*33)
= $36213.72 (the max)
