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If you have an account with an annual simple interest rate of 2.1 percent. You have a principle of 450.00 calculate your interest and your principle for two years?
18.90 as an interest. and principle wil remain same.
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
What is the interest compounded annually when 5000 is invested in an account paying 6.38 percent interest for 10 years?
At the end of the first year, the balance in the account is: 5000(1+.0638). At the end of the second year, the balance in the account is: 5000(1+.0638)(1+.0638). At the end of the third year, the balance in the account is: 5000(1+.0638)(1+.0638)(1+.0638). At the end of the t year, the balance in the account is: 5000(1+.0638)^t. So, at the end of the tenth year, the balance in the account is 5000(1+.0638)^10 = 9,280.47. $5,000 is your principal, and the remaining ($9,280.47 - $5,000) = $4,280.47 is the interest.
What does quarterly mean in compounded interest?
It means that the interest is paid out every three months (quarter year). That means that the interest paid out after 3 months is earning interest for the remaining nine months. The quarterly interest rate is such that this compounding is taken into account for the "headline" annual rate. As a result, if the quarterly interest is taken out, then the total interest earned in a year will be slightly less than the quoted annual rate.
What is tare function?
Tare weight is the weight of the empty container. A tare function enables a scale to account for the weight of the container and display only the additional weight of the contents.
