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If you have 2000 in an account at the start and wish to add 100 to it monthly how much will you have in 40 years if you assume an 8 percent consistent growth rate compounded monthly?
Wiki User
∙ 11y ago
$397,647.60
Hopefully I did it right. If someone could check it and remove this line, then I would appreciate it.
Wiki User
∙ 11y ago
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What would be the ending balance of a 1290 savings account earning 12 percent interest compounded monthly after 1 year?
12 percent, compounded monthly is the equivalent of an annual rate of approx 390%. At that rate, 1290 would be worth 5025.81 (approx).
Which yields more 8 percent apr compounded monthly or 8.5 percent compounded semi-annual?
8% compounded monthly is equivalent to an annual rate of approx 152% . 8.5% compounded six monthly is equivalent to "only" 17.72% so the first is clearly larger.
How much will your 10 million dollar account earn at the end of two years if it is compounded monthly at 6 percent?
14,400,000 dollars
Jim has 500 in his bank account at the start of the year If his account pays out 3.4 percent interest compounded monthly how much money should he have at the end of the year?
704
What is the interest rate of 13.75 percent compounded monthly is equivalent to a daily compounded interest rate?
14.651
What would be the ending balance of a 1290 savings account earning 12 percent interest compounded monthly after 1 year?
12 percent, compounded monthly is the equivalent of an annual rate of approx 390%. At that rate, 1290 would be worth 5025.81 (approx).
Which yields more 8 percent apr compounded monthly or 8.5 percent compounded semi-annual?
8% compounded monthly is equivalent to an annual rate of approx 152% . 8.5% compounded six monthly is equivalent to "only" 17.72% so the first is clearly larger.
How much will your 10 million dollar account earn at the end of two years if it is compounded monthly at 6 percent?
14,400,000 dollars
Jim has 500 in his bank account at the start of the year If his account pays out 3.4 percent interest compounded monthly how much money should he have at the end of the year?
704
What is 7 percent compounded monthly?
It means that at the end of every month, (7/12) of 1 percent of the lowest value of your account during the previous month is added to it.
What is the interest rate of 13.75 percent compounded monthly is equivalent to a daily compounded interest rate?
14.651
What is the monthly interest rate of and annual 10 percent rate?
It is 0.833... recurring % if the interest is simple, or compounded annually. If compounded monthly, it is approx 0.797 %
What is the effective annual rate of 8 percent interest that is compounded monthly?
0.67 percent
What will 10000 be worth in 30 years at 5 percent?
compounded annually--$43,219 compounded quarterly--$44,402 compounded monthly-- $44,677 compounded daily--$44,812
How much will 25000 be worth in 18 years if it is invested at 6 percent compounded monthly?
$73053.88 when compounded month your yearly rate would be 0.061678% * * * * * True, but in real life the quoted interest rate, "6 percent compounded monthly", should read "an interest rate, such that, if it were compounded monthly, would give an annual equivalent rate of 6 percent". The equivalent of 6% annual is 0.487% monthly since 1.0048712 = 1.06
What is the effective annual rate of 12 percent compounded monthly?
3
What is 8500 for 5 years at 4.5 percent compounded monthly?
10412.5
