Compounded yearly, you would end up with $11,901.16
6% of 10000 = 10000*6/100 = 600
3000
6% of 100.00= 6% * 100= 0.06 * 100= 6.00
0.06% = 0.0006 = 6/10000 or 3/5000 in fraction
1/100 is 1% so 1/1000 is 0.1% so 1/10000 is 0.01% therefore 6/10000 is 0.06% this cancels down to 3/5000
6% of 10000 = 10000*6/100 = 600
3000
6% of 100.00= 6% * 100= 0.06 * 100= 6.00
0.06% = 0.0006 = 6/10000 or 3/5000 in fraction
1/100 is 1% so 1/1000 is 0.1% so 1/10000 is 0.01% therefore 6/10000 is 0.06% this cancels down to 3/5000
300. 1 percent of 5,000 = 50. 50 X 6 = 300
600.00$
6275 will be worth 10001.40 while 6274 will not be enough.
6% compounded annually is equivalent to an annual rate of 12.36%. To increase, at 12.36% annually for 3 years, to 10000, the initial deposit must be 7049.61
what is present value of a single payment of 24,000 at 6 percent for 12 years
6% is 600x6/100 =36 per year. 3 years is 3x36 =108
You will earn 500.