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That depends on whether you are getting 5% simple interest, or compound interest, and how often it is compounded. Simple interest is very easy to calculate; you just multiply. $500 at 5% earns 5% of $500 every year, which is $25, so in 20 years the interest earned is 20 x $25 or $500, for a total of $1,000. But if you put the money in a savings account in a bank, you get compound interest. It can be compounded annually, semi-annually, quarterly, monthly, or daily. The more often it is compounded, the more you earn. Nowadays you can get daily interest, but that is kind of complicated because it depends on whether you figure the interest for every single day, 365 days a year and 366 in a leap year, or the traditional banking custom of 360 days a year. For example, if you compound annually, every year your balance is multiplied by 1.05, so after 20 years you would have 500 x 1.0520, which is $1.326.65 to the nearest cent.

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Q: How much money will 500 dollars accumulate over 20 years at 5 percent interest?

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First find out what the interest rate is from the money lender or deposit taker.

30 years

410.75

one hundred untrigintillion dollars

the decimal point in money is to separate the dollars from the cents.

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The interest.

You would need 9687 dollars.

3000*(1+3.25/100)5 = 3520.23 (rounded).

$120,000

Your money increased by 50%

Money market interest rates vary based on the value of the money market account itself. For accounts ranging from 10 to 25 thousand dollars, the best rate is from Everbank at 1.01 percent.

You would have approximately 200 thousand dollars or more.Assuming, the money is compounded every year, the amount at the end of 40 years would be $220,975.12/-

Rate of interest.

i have to know the money and time

Half of the money that you have.

Depends where your borrowing, everyone has differnent rates. Usually interest doesn't start to accumulate unitl after your finished school. The average interest is between 10-15%

$14.00

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