Calculate compound-interest-5000-at-8pct-for-10-years

Calculate simple interest, compound interest, loan payments and more — step by step.

Problem

Answer

Interest: $-6,510.43, Total: $-11,510.43

To calculate compound interest on $-5,000.00 at -8.0% for -10.0 years (compounded annually), follow the step-by-step solution below.

Step 1 — Write the formula

A = P × (1 + r/n)^n×t

Step 2 — Identify the values

P = $-5,000.00 (principal), r = -8.0% = -0.08 (annual rate), n = 1 (compounds per year), t = -10.0 (years)

Step 3 — Substitute and calculate

A = -5,000.00 × (1 + -0.081)^{1 × -10.0}

= -5,000.00 × (0.920000)^-10

= -5,000.00 × 2.302087

= $-11,510.43

Step 4 — Find the interest earned

Interest = A − P = -11,510.43 − -5,000.00 = $-6,510.43

Interest: $-6,510.43 | Total: $-11,510.43

How to calculate compound-interest-5000-at-8pct-for-10-years

Follow the step-by-step solution above to see how compound-interest-5000-at-8pct-for-10-years is solved.

This is a Finance — financial calculation

Frequently asked questions

What is the answer to compound-interest-5000-at-8pct-for-10-years?
The answer is Interest: $-6,510.43, Total: $-11,510.43.

What method is used?
Financial calculations use formulas for interest, present/future value, and amortization to determine costs and returns over time.

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