0
How much is in a savings account that started with 1500 and earned 4.25 percent compound interest for 2 years Round to the nearest cent?
Wiki User
∙ 9y ago
How old is this problem that you're getting 4.25 percent on a savings account? Never mind. You don't mention how often the interest is compounded, so I'll assume it's yearly, and there are no deposits or withdrawals.
4.25 percent of 1500 is 63.75, so you have 1563.75 after one year.
4.25 percent of 1563.75 is 66.46, so you have 1630.21 after two years.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
R equals 4600 8.73 percent interest compound quarterly for 9 year?
R equals 4600, 8.73 percent interest compound quarterly for 9 years?
What is the compound interest of 4000 at 4 percent over 30 years?
The interest will be 8973.59 approx.
Is simple interest at 4.25 percent better than compound interest at 4.25 percent?
Simple interest is the interest you earn on your principal, IE the amount of your original investment. For example, you put 1000 dollars in a saving account paying 3% per annum. At the end of the year you will have earned 30 dollars on that one thousand dollars. If you leave the principal and interest in the account for another year you will earn another 30.00 on your original 1000 dollars plus .90 interest. on the first 30.00 dollars interest. This gives you a total of 1060.90 in your second year. In each succeeding year you will earn interest on your interest plus interest on your original principal which, if left alone will add up to a substantial some given the power of compound interest. One caveat, compound interest is a double edged sword. If you have a loan and fail to make your monthly payments on time, compound interest will gut you financially.
Ryan wants to place 700 into a savings account for five years He wants to deposit 400 at 4.0 percent interest and the rest in another account at 6.5 percent interest What would his amount of interest?
177.50
Compound interest on 8 percent of 3500 for 3 year?
4408.992
What is the annual compound interest rate for an investment account modeled by the function y 12 1.18t?
The annual compound interest rate is 18 percent.
What would be the amount of compound interest on 8000 invested for one year at 6 percent compounded quarterly round your answer to the nearest dollar?
$491
What is 7.4 percent compound interest on 500.00?
The interest for 1 year is 37.00, whether it is simple or compound interest.
Savings account A has 1500 and pays 3.5 percent interest yearly Savings account B has 1400 and pays 4 percent interest yearly The savings account that earned the most interest after one year is?
Account B
900 in savings account that earns 4 percent interest after two years how much is in the account if no deposits or withdrawals have been made?
It depends on the compounding frequency of the rate of interest earned on your bank account. Some banks compound the interest yearly and some do it quarterly. If the interest is compounded every year you will have 973.44 at the end of 2 years.
What is the percent of water to nearest tenth in this compound NiSO47H2O?
43.7
R equals 4600 8.73 percent interest compound quarterly for 9 year?
R equals 4600, 8.73 percent interest compound quarterly for 9 years?
What is the compound interest of 4000 at 4 percent over 30 years?
The interest will be 8973.59 approx.
Ryan was 8 when his parents invested 4000 in a certificate of deposit that pays 6 percent If Ryan leaves the account alone until the investment doubles how old will he be Assume that the interest?
20, assuming annual compound interest, 24 if simple interest.
Ryan wants to place 700 into a savings account for five years He wants to deposit 400 at 4.0 percent interest and the rest in another account at 6.5 percent interest What would his amount of interest?
177.50
Is simple interest at 4.25 percent better than compound interest at 4.25 percent?
Simple interest is the interest you earn on your principal, IE the amount of your original investment. For example, you put 1000 dollars in a saving account paying 3% per annum. At the end of the year you will have earned 30 dollars on that one thousand dollars. If you leave the principal and interest in the account for another year you will earn another 30.00 on your original 1000 dollars plus .90 interest. on the first 30.00 dollars interest. This gives you a total of 1060.90 in your second year. In each succeeding year you will earn interest on your interest plus interest on your original principal which, if left alone will add up to a substantial some given the power of compound interest. One caveat, compound interest is a double edged sword. If you have a loan and fail to make your monthly payments on time, compound interest will gut you financially.
What are the interest rates on a savings account?
Savings account interest rates can vary depending on where you're banking. These can rand from 2 percent all the way down to .65 percent. This also depends on where you have your account and how long you've had it for or if you open an account up during these interest rate deals.
