answersLogoWhite

0


Best Answer

5000

User Avatar

Wiki User

โˆ™ 2010-01-22 21:57:32
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar
Study guides
โžก๏ธ
See all cards
4.71
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
14 Reviews

Add your answer:

Earn +20 pts
Q: 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?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

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


What if Jennifer deposited 10000 in an account that earns compound interest. The annual interest rate is 8 and the interest is compounded 2 times a year. The current balance in the account is 10?

No. If the account is earning interest the current amount should be greater than the initial deposit.


What is the principal of a compound interest?

Adding the interest to the original deposit accelerates the deposited value.


How is lottery money deposited into a checking account?

direct deposit


Can a check be deposited into a minor account?

Yes, a check can be deposited into a minor's account. The adult listed on the account may have to be the one to deposit the checks.


What is a NOW account?

A deposit account that pays interest.


What is the purpose of a savings account?

A Savings Account is a type of account that is designed to promote savings among the general public. You can deposit and withdraw money from this account but at the same time the bank offers you an interest on the money deposited into the account.


How do you use deposited in sentences?

I deposited the cheque into my bank account. I made a deposit on the new T.V. set.


Can you deposit a business check to your personal account?

No, you cannot deposit a business check into a personal checking account. You can only deposit a check into an account that shares the same name, i.e. A check is made out to ABC company--it can only be deposited into an account that is titled ABC company. It cannot be deposited into a personal account--even if that is the personal account of the owner.


If you deposit 10000 in a bank account that pays 8 percent interest annually how much would be deposited in your account after 5 years?

Principle = 10,000/-Interest Rate = 0.08Tenor = 5 YEARSValue of deposit on maturity = Principle X (1+Interest Rate) ^ Tenor= 10,000 X (1+0.08)^5 = Rs 14,693.28


What is a cerficate of deposit?

According to http://en.wikipedia.org/wiki/Certificate_of_deposit a certificate of deposit is money deposited for an agreed upon amount of time that generally pays better interest rates than a regular savings account.


An account owner must do this in order to approve a check to be deposited into their account?

If you have a bank account and are trying to deposit a check, you will have to sign the back of that check. If the back is not signed, it cannot be deposited or cashed.


Can bank close your deposit account?

Sure you can. It's your money and your account and you can close it anytime you wish. However, if you are closing your deposit account before its intended maturity date the bank can charge you a small penalty on the interest component for doing so. But the original money you deposited will not be touched and will be refunded in full when you close the account.


Is a bank deposit slip a credit or debit?

A bank deposit slip is used for credit. Credit is an action in which money is deposited into a bank account. For doing so, we need to fill a deposit slip. The deposit slip contains details like the name of the account holder, amount of money deposited, the denominations, date of deposit etc.


Can I deposit my refund in my mom's bank account?

No. A check/payment order/draft can be deposited only into the bank account of the person to whom it was issued (The Payee). If it is deposited into another persons account, the payment will not be released. Moreover, you may be arrested for trying to do so. However, if you have a joint account with your mother, then you can deposit into that account.


Can I direct deposit using the free Turbotax online?

Don't worry. If you had your refund direct deposited to your account, your refund will be direct deposited.


How saving account is different from recurring and fixed deposit?

Savings Account: A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account. Recurring Deposit: A Recurring Deposit account is one in which the customer deposits a small sum of money (usually a few hundred or thousands) every month. The bank accepts a deposit every month and at the end of the deposit period (usually 12 months or higher) the bank would return the money deposited with them along with a good interest. Fixed Deposit: A FD Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit


Can you deposit your cheque in to your parents account?

It depends: a. Yes - If you are joint holder of the account along with your parents then you can deposit it into that account b. No - If you are not a joint holder of the account along with your parents, then you cannot deposit it into that account. A check can be deposited only into an account that is held by the person on whose name the check is issued.


How do you write a check for deposit to another account?

A person can write a check to another person and have it deposited into another account. The check should have the persons name on it and then have it deposited by visiting their bank.


What is an Interest deposit?

There are two types of deposits accounts that earn an interest in banks. They are: A Fixed Deposit Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


How fixed diposit and recurring deposit is deffrent from saving account?

A Fixed Deposit Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit Recurring Deposit: A Recurring Deposit account is one in which the customer deposits a small sum of money (usually a few hundred or thousands) every month. The bank accepts a deposit every month and at the end of the deposit period (usually 12 months or higher) the bank would return the money deposited with them along with a good interest. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


How much interest does a 100 billion dollars earn a day?

Assuming this 100 billion dollars is deposited in a savings account that earns an interest of 1% per year, the interest earned in a day would be $ 2739726. Assuming this 100 billion dollars is deposited in a Certificate of Deposit that earns around 2.5% interest per year, the interest earned in a day would be $6849315


What are fixed deposite accounts?

In the case of fixed deposit account, the deposit is made for a fixed period and the money deposited can not be withdrawn before the expiry of the period fixed or before giving an advance notice to the bank, fixed deposit carries a higher rate of interest rising with the length of the period and the amount of the deposit.


What is a statement that a sum has been deposited for amounts of time sometimes at a higher rate of interest?

certificate of deposit


Can you deposit gold into your bank account?

No. Only Cash (Money) can be deposited into a bank account. Gold is a valuable metal and there is no way a bank will accept that and deposit it into your account. However, you can always rent out a safety deposit locker with the bank and keep your gold in that for safekeeping.