## Trending News

Anonymous

# Calculate the future value of $12,000 invested for 18 years assuming an annual interest rate 12% compounded monthly?

### 4 Answers

Relevance

- Don GLv 72 months agoFavorite Answer
The formula for the FV of $1 is PV x (1+R)^N, or 12,000 x (1.01)^216 = 102,943.

Since it's compounded monthly, R = 12% / 12 and N = 18 x 12

- Login to reply the answers

- STEVEN FLv 72 months ago
If you just want the number, any spreadsheet program or scientific calculator has a future value function.

If this is for a class, your textbook tells you how to do the math.

- Login to reply the answers

- AmyLv 72 months ago
LOL, you're not gonna get 12% as a long-term average.

You might get 12% one year and -5% the next year.

If you asked this question under "Homework help" instead of personal finance, someone might have told you which formula from your textbook to use for monthly compound interest.

- STEVEN FLv 72 months agoReport
Actually, 12% is the 70+ year average stock market return.

- Login to reply the answers

- Anonymous2 months ago
FV = 12,000 * 1.12^18

Might want to actually look in your textbook one of these days.

- Login to reply the answers

Still have questions? Get your answers by asking now.