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sapi | How long will it take for me to get $100,000, if I invest $5,000 in an account giving me 9.7% interest , compo |
Additional Details
compounded continuously ?
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 |
 
CHARLES R
|
how often does it compound? You also have a box below the question box you can add details to. |
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baffle_effiel
 |
Not able to arrive at correct period .so chk out here if it helps out |
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Northern Explorer
 |
A long time as the government will keep getting their share of the interest for taxes. |
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punkin999
|
You'll never get that interest. anything that offers that interest, today, isn't insured and is probably a scam. |
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Money Expert
|
Hello,
There are better ways to invest your money.
I have invested in my friend's business and now I am getting guaranteed 40% annual interest. You may email me for more information (check my profile).
Don't invest in stocks. It's too risky.
I wish you success! |
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Julian
|
Here are some interesting figures...
$5,000 compounding annually various dates....
5 years - $7,943.33
10 years - $12,619.33
15 years - $20,047.92
30 years - $80,383.86
40 years - $202,878.07
Amazing isn't it? Einstein I believe said that compounding interest is one of the great wonders.
To answer your question though...
It would take 32.36 years for $5,000 to reach $100,000 assuming 9.7% annual compounding |
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Pizzawannabe
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Alli,
Check this out, its called the rule of 72.
Divide 72 by the interest rate and the
answer is how many years it will take to
double your investment compounded daily.
72/9.7 = 7.42 years to double your $5,000.00
investment. Keep repeating this formula till
you reach 100K. |
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michaellahonta
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Compounded monthly at an anual rate of 9.7 it would take roughly 372 months or 31 years. |
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evermore
 |
You can open an free Marketiva forex goldfundindexs online trading account , with $5 reward and $20000 virtrual fund for practice .Just click the following link to open an account.
http://www-forex.spaces.live.com |
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