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

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Q: 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?
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How much money must be deposited today to become 2450 in 20 years at 8.5 compounded continuously?

479.26 needs to be invested to get to 2450 after 20 years at 8.5% compound interest.


Can you give me the continuous compound interest formula?

Compound Interest FormulaP = principal amount (the initial amount you borrow or deposit)r = annual rate of interest (as a decimal)t = number of years the amount is deposited or borrowed for.A = amount of money accumulated after n years, including interest.n = number of times the interest is compounded per yearExample:An amount of $1,500.00 is deposited in a bank paying an annual interest rate of 4.3%, compounded quarterly. What is the balance after 6 years?Solution:Using the compound interest formula, we have thatP = 1500, r = 4.3/100 = 0.043, n = 4, t = 6. Therefore, So, the balance after 6 years is approximately $1,938.84.


How do you solve compound interest question with example?

Compound Interest is the interest which gets compounded in Specified time periods.. The formula for solving Compound Interest problems is as follows: A=P(1+R/100)n Where, A= Amount after Including Compound Interest P= Principle R= Rate % n= Time Period For Calculating Compound Interest: CI=A-P Where, CI= COmpound Interest A= Amount P= Principle For Eg: If Rs 1000 is lend @ 10% Compounded Anually for 2 years, then calculation will be done as follows: A= 1000 (1+10/100)2 = 1000 (1.1)2 = Rs 1210 & Compound Interest will be A-P i.e. Rs 1210-1000= Rs 210. Also, Whenever Compounded Half Yearly or Compounded Quarterly is given, the rate will be divided by 2 & 4 respectively & time period will be multiplied by 2 & 4 respectively. For Eg: if in the above eg, Compounded Half yearly is given, then take R= 5%, n = 4 years (4 half years in 2 years) & if Compounded Quarterly is given, then, take R= 2.5%, n= 8 (8 quarters in 2 years)


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


Find compound interest on Rs800 for 3 years at an interest 8 percent compounded semiannually for three years Find the compound inte?

800 x (1.04)6 ie Rs1012.26

Related questions

How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?

"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?


How much money must be deposited today to become 2450 in 20 years at 8.5 compounded continuously?

479.26 needs to be invested to get to 2450 after 20 years at 8.5% compound interest.


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.


Can you give me the continuous compound interest formula?

Compound Interest FormulaP = principal amount (the initial amount you borrow or deposit)r = annual rate of interest (as a decimal)t = number of years the amount is deposited or borrowed for.A = amount of money accumulated after n years, including interest.n = number of times the interest is compounded per yearExample:An amount of $1,500.00 is deposited in a bank paying an annual interest rate of 4.3%, compounded quarterly. What is the balance after 6 years?Solution:Using the compound interest formula, we have thatP = 1500, r = 4.3/100 = 0.043, n = 4, t = 6. Therefore, So, the balance after 6 years is approximately $1,938.84.


How long does it take to get 40.00 on 8 percent interest with 2.00?

That depends on how the interest works.Is it simple interest ? Is it compound interest ?If compound, then how often is it compounded ?8% simple interest turns $2 into $40 in 237.5 years .8% compound interest, compounded quarterly, does the job in 37.8 years .As you can see, it makes quite a difference.


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 is compound interest semiannually?

Interest is compounded semiannually if the interest is calculated every six months and added to the capital.


Compound Interest Model?

A=P(1+r/n)^nt. where P is the initial principal deposited in an account that pays interest at annual rate r(expressed as a decimal), compounded n times per year. the amount after t years.


What is the principal of a compound interest?

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


After 6 years what is the total amount of a compound interest investment of 35000 at 4 percent interest compounded quarterly?

$44,440.71


What is compound interest on 15000 at 6 percent compounded annually for 2 years?

1257


What is the compound interest on 750000 pesos borrowed at 2.50 percent interest per year for 1 year if the interest is compounded quarterly?

Since the annual interest rate is given, the fact that the interest is calculated and compounded quarterly is not relevant. The interest is 750000*2.5/100 = 18750 pesos.