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What put 100 of the money he earned mowing lawns into a savings account write a decimal number that is equivalent to 100?
Wiki User
∙ 8y ago
100% = 1
Wiki User
∙ 8y ago
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1000 dollars is invested in a savings account that pays 9 percent interest per year The interst earned after the first year is added to the account How much interest is earned on the following year?
$98.10 in interest is earned in the following year.Year One:$1000 x 0.09 = $90$1000 + $90 = $1090Year Two:$1090 x 0.09 = $98.10
How much interest will be earned in an account into which 1000 is deposited for one year with continuous compounding at a 13 percent rate?
The "13 percent rate" is the equivalent annual rate. So the interest will be 130.
How much is in a savings account that started with 1500 and earned 4.25 percent compound interest for 2 years Round to the nearest cent?
How old is this problem that you're getting 4.25 percent on a savings account? Never mind. You don't mention how often the interest is compounded, so I'll assume it's yearly, and there are no deposits or withdrawals. 4.25 percent of 1500 is 63.75, so you have 1563.75 after one year. 4.25 percent of 1563.75 is 66.46, so you have 1630.21 after two years.
Miguel earned 10 and saved 3 what decimal part did he save?
0.3
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
Savings account A has 1500 and pays 3.5 percent interest yearly Savings account B has 1400 and pays 4 percent interest yearly The savings account that earned the most interest after one year is?
Account B
Do you have to pay tax on a savings account that earned less than 10?
Yes.
What do you see you have contributed to your savings account?
You will see your balance and any interest earned.
The amount of money earned in a year by a savings account is called the?
ANSWER It is called "interest".
Does a 14 year old have to pay taxes on interest earned from savings account or CD's?
Yes
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
What is a Cash ISA?
A cash ISA is somewhere you can keep your savings if you pay taxes. The interest earned on a cash ISA is 100 percent tax-free, as opposed to a normal savings account.
Disadvantages of savings bank account?
Actually there are no disadvantages of having a savings account. Saving money is a good habit and keeping it in a bank account is even better because it will earn you an interest. The only downside is that the interest earned in a savings account is much much lesser than a fixed deposit but nonetheless the money is liquid and you can take it anytime you want, which isn't the case with a fixed deposit.
Why is it important to find a safe bank to open a savings account?
Because, it is our hard earned money and if the bank fails or goes bankrupt, all the money we deposit with it is also gone. So it is always important to find a safe bank to open a savings account.
How does equity differ from an asset?
Equity is something gained from an asset such as shareholders, interest earned, or mortgage's. there are many ways to earn equity. one popular way is interest earned from a savings account.
What is the highest interest for a savings account at a Credit Union?
Credit Union have a savings plan where the amount of interest earned is dependant on the amount of money being saved. Further information can be found on the Credit Union website.
Who pays income taxes on interest earned on a joint savings account that is owned by me and my mother?
Usually you and you mother will both pay half each of any taxes due on the interest which is generated from a joint account
