Best Answer

The total grows as time passes. That's the whole idea of interest and compounding.

In order to calculate what the total is now, we need to know how long it has been

in the account accumulating interest, and you haven't told us that.

Q: What was the total savings for 400 annual rate 6 percent 6 percent compounded semiannually?

Write your answer...

Submit

Still have questions?

Continue Learning about Math & Arithmetic

Annual: 176.23 Semiannually : 179.08 Quarterly: 180.61 Monthly: 181.67 Daily: 182.19 (assuming 365.25 days per year, on average).

The annual equivalent rate is 15.5625%. The amount invested is irrelevant to calculation of the equivalent rate.

12 percent, compounded monthly is the equivalent of an annual rate of approx 390%. At that rate, 1290 would be worth 5025.81 (approx).

17%

8% compounded monthly is equivalent to an annual rate of approx 152% . 8.5% compounded six monthly is equivalent to "only" 17.72% so the first is clearly larger.

Related questions

$1480.24

Annual: 176.23 Semiannually : 179.08 Quarterly: 180.61 Monthly: 181.67 Daily: 182.19 (assuming 365.25 days per year, on average).

The annual equivalent rate is 15.5625%. The amount invested is irrelevant to calculation of the equivalent rate.

12 percent, compounded monthly is the equivalent of an annual rate of approx 390%. At that rate, 1290 would be worth 5025.81 (approx).

17%

It is 14.9 percent.

8% compounded monthly is equivalent to an annual rate of approx 152% . 8.5% compounded six monthly is equivalent to "only" 17.72% so the first is clearly larger.

0.67 percent

3

If every six months the capital earn 10% interest which is compounded, at the end of 5 years, the interest will be 31875. If the annual interest rate is 10%, it makes no difference how often it is compounded. The six monthly interest rate is adjusted - to 4.88% rather than 5% - so that the total interest for a year is 10%.

The effective annual rate for a credit card that carries a 9.9% annual percentage rate (compounded daily) is 10.4%.

6.485% (rounded)