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£765.31
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
1 x (1.03)40 = 3.26
Roughly 11,669.70
13468.02
£765.31
"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
Since the annual interest rate is given, the fact that the interest is calculated and compounded quarterly is not relevant. The interest is 750000*2.5/100 = 18750 pesos.
$44,440.71
If you opened a savings account and deposited 5000 in a six percent interest rate compounded daily, then the amount in the account after 180 days will be 5148.
8 percent compounded quarterly is equivalent to approx 36% annually. At that rate, after 3 years the ending balance would be 1762.72 approx.
$16,105.10 if compounded yearly, $16,288.95 if compounded semi-annually, $16,386.16 if compounded quarterly, $16,453.09 if compounded monthly, and $16,486.08 if compounded daily.
$491
compounded annually--$43,219 compounded quarterly--$44,402 compounded monthly-- $44,677 compounded daily--$44,812
1 x (1.03)40 = 3.26
That depends on how the interest works.Is it simple interest ? Is it compound interest ?If compound, then how often is it compounded ?8% simple interest turns $2 into $40 in 237.5 years .8% compound interest, compounded quarterly, does the job in 37.8 years .As you can see, it makes quite a difference.