> Intrest on 25000.00 at 3%?

Intrest on 25000.00 at 3%?

Posted at: 2014-12-05 
Compound 3% per month

It depends on how long. Use this formula to calculate total interest:

i = pv * ((1 + r/n) ^ (n*t) - 1)

where pv = present value (25000), r = annual rate (0.03), n = compounding (12 if monthly), and t = time in years.

For example, for 1 year (t=1),

i = 25000 * ((1 + 0.03/12) ^ (12*1) - 1) = 760.40

For different amounts of time, change t.

Compound 3% per month