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What is the answer of the balance in the compound interest account 1400 after 3 years at 5.5 percent?
Wiki User
∙ 12y ago
The question doesn't tell us the compounding interval ... i.e., how often the
interest is compounded. It does make a difference. Shorter intervals make
the account balance grow faster.
We must assume that the interest is compounded annually ... once a year,
at the end of the year.
1,400 x (1.055)3 = 1,643.94 (rounded)at the end of the 3rd year.
Wiki User
∙ 12y ago
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You deposit 900 in a savings account that earns 4 percent interest compounded once a year after 2 years the second years interest has been added how much will be in the account?
$972.00From Superscot85: Above answer is for Simple Interest. You specifically stated "compound" so after 2 years balance will be 900 x (1.04)2 ie 973.44
Eric earns 6.5 percent simple interest annually on his savings account he has a beginning balance of 459.32 How much interest does he receive?
29.86
What will the new balance be if she places 560.25 into an account that pays 2.5 percent annual interest for ten years?
Simple interest: 10 years @2.5% is 25% so 140.06 interest, new total 700.31; Compound interest: 560.25 x (1.025)10 ie 560.25 x 1.28 = 717.12
A bank account yields 7 percent interest compounded annually If you deposit 1000 in the account what will the account balance be after five years?
Per annum compound interest formula: fv = pv(1+r)^t Where: fv = future value pv = present (initial) value r = interest rate t = time period Thus, fv = 1000*(1+0.07)^5 = 1000*1.4025517307 = $1402.55
What is the interest and balance of 375 at 4 percent for 5 years?
If compounded, interest = 81.244 and balance = 456.245 If not compounded, interest = 75 and balance = 450
What is the annual compound interest rate for an investment account modeled by the function y 12 1.18t?
The annual compound interest rate is 18 percent.
Calculate the new balance after one year on a savings account if the previous balance was 125.39 and the interest rate was 5 percent?
$131.66
You deposit 900 in a savings account that earns 4 percent interest compounded once a year after 2 years the second years interest has been added how much will be in the account?
$972.00From Superscot85: Above answer is for Simple Interest. You specifically stated "compound" so after 2 years balance will be 900 x (1.04)2 ie 973.44
Eric earns 6.5 percent simple interest annually on his savings account he has a beginning balance of 459.32 How much interest does he receive?
29.86
What will the new balance be if she places 560.25 into an account that pays 2.5 percent annual interest for ten years?
Simple interest: 10 years @2.5% is 25% so 140.06 interest, new total 700.31; Compound interest: 560.25 x (1.025)10 ie 560.25 x 1.28 = 717.12
Calculate the simple interest you would receive in one year on a savings account that earns 5 percent annual interest What if your beginning balance is 255.19?
12.76
Calculate the simple interest you would receive in five years on a savings account that earns 7.5 percent annual interest What if your beginning balance is 1236.59?
463.72
A bank account yields 7 percent interest compounded annually If you deposit 1000 in the account what will the account balance be after five years?
Per annum compound interest formula: fv = pv(1+r)^t Where: fv = future value pv = present (initial) value r = interest rate t = time period Thus, fv = 1000*(1+0.07)^5 = 1000*1.4025517307 = $1402.55
What is 7.4 percent compound interest on 500.00?
The interest for 1 year is 37.00, whether it is simple or compound interest.
What is the interest and balance of 375 at 4 percent for 5 years?
If compounded, interest = 81.244 and balance = 456.245 If not compounded, interest = 75 and balance = 450
What is the balance after 8 years on a deposit of 500.00 earning 7 percent interest compound semiannually?
(1.035)16 = 1.73398604 $500 ===> $866.99 (rounded)
Belle wants to know what her new balance will be if she places 560.25 into an account that pays 2.5 percent annual interest for 10 years?
700.31
