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If you deposited 1000 in a savings account that pays 8 percent interest quarterly how much could you have in eighteen months?
Wiki User
∙ 14y ago
1000*(1.08)6 = 1586.87.
Wiki User
∙ 14y ago
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If 600 is deposited in a bank that pays 8.45 percent compounded quarterly what is the amount in the account after 10 months?
£765.31
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.
June deposited 8450 in an account that pays 6 percent interest compounded annually find the amount she will have in the account at the end of 8 years?
13468.02
How much money will be in a bank account after 3 years if 4 is deposited at an interest rate of 5 percent?
$4.63
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?
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 ?
The annual interest rate of Belinda's savings account is 8.6 and simple interest is calculated quarterly What is the periodic interest rate of Belinda's account?
2.15% Apex
If 600 is deposited in a bank that pays 8.45 percent compounded quarterly what is the amount in the account after 10 months?
£765.31
What is the term for a type of account that earns interest as money is deposited?
money
What is an example of interest-bearing account?
An Interest bearing account is a bank account in which, the banks pays you an interest for keeping your money deposited in that account. Ex: Savings Bank Account - You usually get around 3.5% rate of interest on the money you hold in your savings account in India.
You opened a savings account with the deposited 5000 in a six percent interest rate compounded daily what is the amount in the account after 180 days?
If you opened a savings account and deposited 5000 in a six percent interest rate compounded daily, then the amount in the account after 180 days will be 5148.
What does quarterly mean in compounded interest?
It means that the interest is paid out every three months (quarter year). That means that the interest paid out after 3 months is earning interest for the remaining nine months. The quarterly interest rate is such that this compounding is taken into account for the "headline" annual rate. As a result, if the quarterly interest is taken out, then the total interest earned in a year will be slightly less than the quoted annual rate.
How often does banks pay interest that is calculated?
It varies, interest is typically paid monthly or quarterly depending on the type of account it is. Checking accounts ususally pay interest monthly while savings and certificates typically pay interest quarterly. It is up to the bank on how often they pay interest.
How does one collect their accrued interest?
Accrued interest is obtained when the payment is received to the borrower. When the payment is received, interest is then realized and deposited into your account.
What does compounded annually mean?
At the end of the year the interest is deposited in the account. The next year the interest is figured on the principal plus last year's interest.
If i deposited 235.00 in 1974 in a savings account what would be my balance?
The amount in your balance would depend on the interest rate of your savings account.
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.
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
