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What is the future amount in a retirement account if 100 dollars per month is deposited into a retirement account at 12 percent interest for 25 years?
Wiki User
∙ 14y ago
This is a very tough question, with tonnes of working, so I will give you the answer but if you want the working, send me a message and I will get it to you.
It took me a while to work it out, and it may not be 100% accurate, but I think it is pretty close...
$179,200.72
If you have any problems just leave me a message
Wiki User
∙ 14y ago
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Is 50 thousand dollars a lot of money to have in a retirement account when your 23 years old?
Yes, that is an excellent start!
What amount will an account have after 9 years if 125 DOLLARS is invested at 8 percent interest compunded continuously?
249.88 dollars
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.
You deposit 700 in an account that pays 8 percent interest compounded yearlyfind the balance after 13 years?
You will have 1903.737 dollars in your account at the end of 13 years. The year wise end balance will be:756816.48881.798952.3421028.531110.8121199.6771295.6511399.3031511.2471632.1471762.7191903.737This is under the assumption that you don't deposit any fresh funds into your account and initial 700 dollars + the accumulated interest is all that is available in the account.
Is simple interest at 4.25 percent better than compound interest at 4.25 percent?
Simple interest is the interest you earn on your principal, IE the amount of your original investment. For example, you put 1000 dollars in a saving account paying 3% per annum. At the end of the year you will have earned 30 dollars on that one thousand dollars. If you leave the principal and interest in the account for another year you will earn another 30.00 on your original 1000 dollars plus .90 interest. on the first 30.00 dollars interest. This gives you a total of 1060.90 in your second year. In each succeeding year you will earn interest on your interest plus interest on your original principal which, if left alone will add up to a substantial some given the power of compound interest. One caveat, compound interest is a double edged sword. If you have a loan and fail to make your monthly payments on time, compound interest will gut you financially.
How much interest does a 100 billion dollars earn a day?
Assuming this 100 billion dollars is deposited in a savings account that earns an interest of 1% per year, the interest earned in a day would be $ 2739726. Assuming this 100 billion dollars is deposited in a Certificate of Deposit that earns around 2.5% interest per year, the interest earned in a day would be $6849315
Mark deposited 1256 dollars from his summer job in a savings account that pays 4.5 percent interest How much interest will he earn after one year?
100
How much interest will you earn on 74.3 million dollars?
Depends on interest rate where deposited.
Franklin just deposited 364 dollars into his checking account If Franklin now has a total of 500 dollars in his account how much did he have originally?
Newly deposited amount: 364 dollars Current Bank balance: 500 dollars Previous balance:? Previous balance = current balance - newly deposited amount = 500 - 364 = 136 Franklin had 136 dollars in his account before he made the 364 dollar deposit
Karen deposited 8500 dollars in a college savings account for her grandson The account earns an annual simple interest rate of 6.5 percent How much money will she have at the end of ten years?
8500 x ((1.065) to the 10th power) = 15955.67
Where can I open a Roth IRA account?
A Roth IRA is simply a retirement account in which tax-paid funds are deposited. A traditional IRA is untaxed dollars, which are taxed upon withdrawal. A Roth IRA can be set up with any broker or lender that sets up traditional IRAs. Your employer, banker, banker or accountant can assist you.
Is 50 thousand dollars a lot of money to have in a retirement account when your 23 years old?
Yes, that is an excellent start!
How much would ten thousand dollars in 1956 be worth today?
It would be worth $10,000. If you deposited the money into an interest bearing account you would only be able to figure it out if you figure out the annual rate, times the number of years and add the $10,000.
How much cash must be deposited to open a checking account at the Whidbey Island Bank?
"Whidbey Island bank requires you to make a deposit of 100 dollars to open a checking account with them. If you are opening a savings account, you must deposit at least 150 dollars."
What amount will an account have after 9 years if 125 DOLLARS is invested at 8 percent interest compunded continuously?
249.88 dollars
You start a account with $2500 and a interest rate of 6.5 compounded yearly. How much is in the account after 7 years?
It is 3884.97 dollars.
1000 dollars in a savings account pays 7 percent interest per year The interest earned after the first year is added to the account How much interest is earned on the new principal the following year?
$74.90
