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How much money would have to be deposited now at 3 percent interest compounded monthly to accumulate to 600 in 4 years?
Wiki User
∙ 12y ago
b * 1.03 4*12 = 600
b = 600 / 1.0348
b ≈ 600 / 7.977
b ≈ 145.20
Wiki User
∙ 12y ago
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What is the interest rate of 13.75 percent compounded monthly is equivalent to a daily compounded interest rate?
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How do you calculate monthly interest rate on an annual interest rate?
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14.651
What is the monthly interest rate of and annual 10 percent rate?
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How do you calculate monthly interest rate on an annual interest rate?
If not compounded monthly, a monthly interest rate is simply 1/12 of the annual rate. Things do get complicated, though if the interest is compounded monthly. An annual interest rate of R% is equivalent to a monthly rate of 100*[(1 + R/100)^(1/12) - 1] %
Interest on maturity is better or monthly interest?
If you need a monthly income then obviously a monthly income is better. If the monthly interest is not withdrawn then it makes no difference because the annual interest rate is usually equal to the compounded monthly rate.
If you deposit 10000 in a bank account that pays 10 percent interest annually how much would be deposited in your account after 5 years?
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How do you determine the rate for one month for compounded interest?
On monthly compounding, the monthly rate is one twelfth of the annual rate. Example if it is 6% annual, compounded monthly, that is 0.5% per month.
150 if invested for three years at a 9 percent interest rate?
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
What is the monthly return of 1000 invested in saving account with 5.8 monthly interest?
If you mean 5.8% annual interest rate compounded monthly, then (1000*.058)/12 = 4.83
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Compounded annually: 2552.56 Compounded monthly: 2566.72
How many years will it take an investment to triple at 8 percent interest compounded monthly?
At 8% per month, compounded, it will take just 1.2 years. However, with monthly interest such that its annual compounded equivalent is 8% (roughly 0.64% each month), it will take 14.27 years.
