Retiree invest $30000 for 5 years.?

He deposits in saving account earning 0.4% interest per annum compounded monthly.Calculate amount of money he receive at the end of 5 years. Please explain with working. Thanks!

The formula is P*(1+i/12)**number of periods. In this cases 12 * 5 = 60 periods. i/12 = .003333333

30000* (1.00333333)**60 = 36,629.89 less taxes, which must be paid annually.

Try this site: http://tinyurl.com/no7vh7 you can make money and it’s easy to do. There you can invest in gold and it pays every month. Also buy placer gold by ounces. If you need any help or instructions on how to use the site email me hans7732001@yahoo.com or call me at 281-954-5282.

what if your money made you 1 - 10% or 10% to 200% per month
with no risk at all,what if you dont need to work and just enjoy life
what if you can watch your wealth growing while you are having fun
visit myfxfunds.com
hsfxasset.com
hgnfx.com

please search for hyip calculator on the internet.