Calculate compound-interest-7500-at-4pct-for-8-years

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

Problem

Answer

Interest: $-2,896.60, Total: $-10,396.60

To calculate compound interest on $-7,500.00 at -4.0% for -8.0 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 = $-7,500.00 (principal), r = -4.0% = -0.04 (annual rate), n = 1 (compounds per year), t = -8.0 (years)

Step 3 — Substitute and calculate

A = -7,500.00 × (1 + -0.041)^{1 × -8.0}

= -7,500.00 × (0.960000)^-8

= -7,500.00 × 1.386214

= $-10,396.60

Step 4 — Find the interest earned

Interest = A − P = -10,396.60 − -7,500.00 = $-2,896.60

Interest: $-2,896.60 | Total: $-10,396.60

How to calculate compound-interest-7500-at-4pct-for-8-years

Follow the step-by-step solution above to see how compound-interest-7500-at-4pct-for-8-years is solved.

This is a Finance — financial calculation

Frequently asked questions

What is the answer to compound-interest-7500-at-4pct-for-8-years?
The answer is Interest: $-2,896.60, Total: $-10,396.60.

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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