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How much would a person need to deposit into a savings account to generate 1 000 per month for one year if annual simple interest rates are 5 percent?
Wiki User
∙ 10y ago
the formula to calculate simple interest is p * n * r/100 where p is the amount deposited, n is the number of years and r is the rate of interest.
Here, you want 1000 as interest, and mentioned r as 5%. Lets assume n as '1' year. So the calculation goes as follows:
p * n * r / 100 = 12,000
p * 1 * 5 = 1,200,000
p = 240,000
So, you need to deposit 240,000 if you need 1000 as income every month.
Wiki User
∙ 10y ago
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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
What do you get if You deposit 750.00 in an account that earns 5 percent simple interest How much interest will your money earn in 6 months?
Two and a half percent of 750 ie 2.5 x 7.5 which is 18.75
You deposit 750.00 in an account that earns 5 percent simple interest How much interest will your money earn in 6 months?
7.5 x 2.5 ie 18.75
You deposit 700 in an account that pays 8 percent interest compounded yearlyfind the balance after 13 years?
You will have 1903.737 dollars in your account at the end of 13 years. The year wise end balance will be:756816.48881.798952.3421028.531110.8121199.6771295.6511399.3031511.2471632.1471762.7191903.737This is under the assumption that you don't deposit any fresh funds into your account and initial 700 dollars + the accumulated interest is all that is available in the account.
How much do you need to deposit now into an account which pays you 3 percent compounded monthly to have 10000 in 25 years?
Deposit 4776.06 The frequency of compounding does not matter since the annual interest rate is given.
Shaun wants to split his 500 into two accounts He wants to deposit 125 at 4.9 percent interest in one account and the rest at 5.0 percent interest in another account?
24.88
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
If you deposit 10000 in a bank account that pays 10 percent interest anually how much would be deposited in your account after 5 years?
5000
If you deposit 20000 in a savings account at 9.1 percent interest per year how much will you have in 17 years?
50,940 dollars
Jerry invested 14000 in a certificate of deposit at 5 percent he also put 2500 in a savings account at 3 percent how much interest will he earn after?
775
What is the balance after 7 years if you deposit 350 every quarter into a savings account that earns 4.5 percent interest compounded quarterly?
$11,573.02 if you deposit at the beginning of the quarter or $11,444.27 if you deposit at the end of the quarter
What do you get if You deposit 750.00 in an account that earns 5 percent simple interest How much interest will your money earn in 6 months?
Two and a half percent of 750 ie 2.5 x 7.5 which is 18.75
Packer wants to place 700.00 into a savings account for 5 years He wants to deposit 400.00 at 4.0 percent and the rest in another account at 6.5 percent What would his amount of interest be at the en?
177.50
You deposit 750.00 in an account that earns 5 percent simple interest How much interest will your money earn in 6 months?
7.5 x 2.5 ie 18.75
You deposit 700 in an account that pays 8 percent interest compounded yearlyfind the balance after 13 years?
You will have 1903.737 dollars in your account at the end of 13 years. The year wise end balance will be:756816.48881.798952.3421028.531110.8121199.6771295.6511399.3031511.2471632.1471762.7191903.737This is under the assumption that you don't deposit any fresh funds into your account and initial 700 dollars + the accumulated interest is all that is available in the account.
If you deposit 10000 in a bank account that pays 8 percent interest anually how much would be deposited in your account after 5 years?
(10000)(0.8)(5)/100 ~ 10400
Jerry invested 14000 in a certificate of deposit at 5 percent He also put 2500 in a savings account at 3 percent How much interest will he earn after one year?
$775
