How can you work out compound interest on 12,000 dollars over 12 years?

Is here a formula?

Answers:
Yes near is a formula.
Future Value = Present Value * (1 + interest rate) ^ number of periods

So you answer is:

FV = 12000 * (1 + 0.05) ^ 12 (^ resources to the power of)
FV = 12000 * (1.05)^12
FV = 12000 * 1.7958
FV = $21550.27
If 5% interest, later (1.05^12) times 12,000.= 21,550
How regularly does it compound?

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