0
If a Principal of 12000 is invested in an account paying an annual interest rate of 10 percent what is the amount in the account after 6 years if the account is compounded quarterly?
Wiki User
∙ 14y ago
Quarterly compounding means 1/4 of the annual interest rate is paid 4 times a year.
In 6 years, you get 2.5 percent 24 times.
(1.025)24 = 1.80873 (rounded)
Your $12,000 has then grown to (12,000 x 1.80873) = $21,704.71 .
Can I send you some money to add to the account for me ?
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
How long will it take to double principal if invested at 5.25 compounded quarterly?
The simple answer is approximately 13.7 years using the rule of 72. Interest paid quarterly will affect the answer a little, but not enough to matter.
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 future value of Rs1.00 invested for 10 years if 12 percent annual rate of interest is compounded quarterly?
1 x (1.03)40 = 3.26
A principal of 835 is invested in an account at 3 percent per quarter simple interest Which of the following sequences describes the dollar amount of principal in the account at quarterly interval?
835.00, 860.05, 885.10, 910.15, 935.20,
How much would 500 invested at 9 percent interest compounded continuously be worth after 4 years?
$716.66 The formula is Principal times e to the rate times time power. Future Value = PeYr
How long will it take to double principal if invested at 5.25 compounded quarterly?
The simple answer is approximately 13.7 years using the rule of 72. Interest paid quarterly will affect the answer a little, but not enough to matter.
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 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
If you have 2500 to invest at 6 interest compounded quarterly. For how many years will the money need to be invested for that amount to triple?
It will take 19 years.
Olivers grandfather invested 150 at 5 percent interest compounded quarterly When Oliver inherited it the amount was 6000 For how many years had the 150 been invested?
74 or 75 years
What is the future value of Rs1.00 invested for 10 years if 12 percent annual rate of interest is compounded quarterly?
1 x (1.03)40 = 3.26
What is the future value if 3400 is invested for 5 years at 8 percent compounded quarterly?
$5,052.22
Find the final amount for the investment 750 at 10 percent interest compounded quarterly for 10 years?
750 invested for 10 years at 10% pa would be 1,945
If Mary deposits 275 in principal at an interest rate of 3.2 percent how much interest will she earn in one year?
Before she chooses a bank and deposits her money, Mary should shop around first.There are different kinds of interest.At 3.2% . . .If it's simple interest, her money will earn $ 8.80 .If it's compounded quarterly, it earns $ 8.91 in one year.If it's compounded monthly, it earns $ 8.93 .If it's compounded daily, it earns $ 8.94 .Also, by the way, notice that Mary doesn't earn the interest. Her invested money does.
A principal of 835 is invested in an account at 3 percent per quarter simple interest Which of the following sequences describes the dollar amount of principal in the account at quarterly interval?
835.00, 860.05, 885.10, 910.15, 935.20,
How much money should be invested at 14 percent compounded quarterly to yield 12000 at the end of 7 years?
4795.65 (approx).
How do you figure out interest?
There are two types of interest, simple and compound: Simple Interest is calculated by p*r*t where, p = principal (original amount invested) r = interest rate for one period t = time Compound Interest is calculated by p * (1+ (r/n)) ^ n*t where, p = principal r = interest rate n = number of times per year the interest is compounded t = number of years invested
