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  • Simple - Compound Interest (7.3.13)

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    Jignesh Parmar
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    This document shows a table comparing the amounts over 40 years of an initial 1000 principal amount invested at 8% interest compounded annually versus using simple interest. The compound interest amount grows more each year, resulting in over 4 times the ending amount as simple interest. By year 40, the compound interest amount is 420000 whereas simple interest is only 42000, with a difference in the ending amounts of 175245.52.

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    (9)Simple.compound Interest(7.3.13)

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    This document shows a table comparing the amounts over 40 years of an initial 1000 principal amount invested at 8% interest compounded annually versus using simple interest. The compound interest amount grows more each year, resulting in over 4 times the ending amount as simple interest. By year 40, the compound interest amount is 420000 whereas simple interest is only 42000, with a difference in the ending amounts of 175245.52.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views15 pages

    Simple - Compound Interest (7.3.13)

    Uploaded by

    Jignesh Parmar
    This document shows a table comparing the amounts over 40 years of an initial 1000 principal amount invested at 8% interest compounded annually versus using simple interest. The compound interest amount grows more each year, resulting in over 4 times the ending amount as simple interest. By year 40, the compound interest amount is 420000 whereas simple interest is only 42000, with a difference in the ending amounts of 175245.52.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 15

    JIGNESH.

    PARMAR
    wwwelectricalnotes.wordpress.com
    jiguparmar@yahoo.com

    Amount
    Int.Rate:

    1000.00
    8.00%

    Year

    Amount
    (Simple Interest)

    Amount
    (compound Interest)

    0
    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15
    16
    17
    18
    19
    20
    21
    22
    23
    24
    25
    26
    27
    28
    29
    30
    31
    32
    33
    34
    35
    36
    37
    38
    39
    40

    1000.00
    1080.00
    1160.00
    1240.00
    1320.00
    1400.00
    1480.00
    1560.00
    1640.00
    1720.00
    1800.00
    1880.00
    1960.00
    2040.00
    2120.00
    2200.00
    2280.00
    2360.00
    2440.00
    2520.00
    2600.00
    2680.00
    2760.00
    2840.00
    2920.00
    3000.00
    3080.00
    3160.00
    3240.00
    3320.00
    3400.00
    3480.00
    3560.00
    3640.00
    3720.00
    3800.00
    3880.00
    3960.00
    4040.00
    4120.00
    4200.00

    1000.00
    1080.00
    1166.40
    1259.71
    1360.49
    1469.33
    1586.87
    1713.82
    1850.93
    1999.00
    2158.92
    2331.64
    2518.17
    2719.62
    2937.19
    3172.17
    3425.94
    3700.02
    3996.02
    4315.70
    4660.96
    5033.83
    5436.54
    5871.46
    6341.18
    6848.48
    7396.35
    7988.06
    8627.11
    9317.27
    10062.66
    10867.67
    11737.08
    12676.05
    13690.13
    14785.34
    15968.17
    17245.63
    18625.28
    20115.30
    21724.52

    Amount
    Differences
    0.00
    0.00
    6.40
    19.71
    40.49
    69.33
    106.87
    153.82
    210.93
    279.00
    358.92
    451.64
    558.17
    679.62
    817.19
    972.17
    1145.94
    1340.02
    1556.02
    1795.70
    2060.96
    2353.83
    2676.54
    3031.46
    3421.18
    3848.48
    4316.35
    4828.06
    5387.11
    5997.27
    6662.66
    7387.67
    8177.08
    9036.05
    9970.13
    10985.34
    12088.17
    13285.63
    14585.28
    15995.30
    17524.52

    25000.00

    20000.00

    15000.00

    10000.00

    5000.00

    0.00
    0

    Amount(Simple In

    Amount(Simple Interest)
    Amount(Compound Interest)

    JIGNESH.PARMAR
    welectricalnotes.wordpress.com
    jiguparmar@yahoo.com

    8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40

    Amount(Simple Interest)

    Amount(Compound Interest)

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