0
Juan deposited 900 in a savings account earning 4 percent interest over two years what was the total ammount earned after 2 years?
Wiki User
∙ 11y ago
963
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
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.
Roxanne deposited 300 into a savings account earning 5 annually What is her balance after 1 year?
Roxanne deposited $300 into a savings account earning 5¼% annually. What is her balance after 1 year
What happens if you deposit 10000.00 into a bank?
Actually nothing special happens. The few things that happen are:Your bank balance increases by 10000 (the amount you deposited)The money you deposited is available for withdrawal anytime you wantThe money you deposited starts earning an interest for you for as long as this money is kept in that account.
Juan deposited 200 in a savings account earning 3 percent interest over 2 years What was the total amount of interest earned after 2 years?
Interest for 1st year = $6 Principal after 1 year = $206 Interest for 2nd year = $6.18 Principal after 2 year = $212.18 Total Interest earned after 2 years = $12.18
How do you use earn in a sentence?
I used to be earning a much higher interest rate in my savings account
Troy and his wife Angela put 5000.00 of their savings into a bank account earning 7.25 percent interest How much will Trey and Angela have in all after 3 years?
Amount Deposited = 5000 Rate of Interest = 7.25 Years = 3 Interest earned = 5000 * 7.25 * 3 / 100 = 1087.50 They will have 6087.50 at the end of 3 years (Under the assumption that no compounding was involved)
What is interest deposit?
BlockFi offers crypto interest-earning accounts with up to 8.6% APY. This allows clients holding crypto like Bit coin & Ether to earn compounding interest. BlockFi also offers low-cost USD loans backed by crypto. Access crypto capital without selling. bkxzP
What is earning interest on interest called?
Compound interest
What is good about interest-Bearing checking account?
There are many benefits one can receive on bank accounts which pay interest. Some of these include earning money while saving ones own. Some banks will waive service charges if ones account remains above a set dollar amount.
You deposit 300 today 500 one year from now and 600 four years from now into an account that earns 8 percent compounded annually How much money will you have 7 years from now?
Assuming you deposit the money on the first day of each year you will have 2,124 from the 1,400 you'd deposited earning a total of 724 interest
What is your current salary?
Your current salary is the ammount of money you are earning in your current job, usually expressed as an ammount per annum (per year).
If an account balance is being charged 1 percent interest per week is this the same thing as saying 52 percent per year. What is the equation for finding the true annual rate of interest?
No if the account earns interest daily, it's earning interest on interest essentially. So if you have $100 and you earn 1% interest, you would have $101 dollars the next day and earn 1.01 dollars in interest, and so on.
