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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?
Wiki User
∙ 13y ago
The "13 percent rate" is the equivalent annual rate. So the interest will be 130.
Wiki User
∙ 9y ago
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The accumulation of funds over time where previous interest earned remains in the account to earn additional interest is called?
compounding interest.... i think
What type of interest is interest paid on the amount of your original deposit plus on any interest that you have earned previously on the money in an account?
it is any interest after the first compounding there isn't a special name for it...
How much would Kendra have in her account after three years if she started with 500 and earned 2 percent interest compounding annually?
$530.60
What if Jennifer deposited 10000 in an account that earns compound interest. The annual interest rate is 8 and the interest is compounded 2 times a year. The current balance in the account is 10?
No. If the account is earning interest the current amount should be greater than the initial deposit.
June deposited 8450 in an account that pays 6 percent interest compounded annually find the amount she will have in the account at the end of 8 years?
13468.02
What is the terminology of compounding interest?
The terminology of compounding interest means adding interest to the interest that one already has on an account. The interest could be added to a bank account or to a loan.
What is the interest on 1200 invested for 2 years in an account that earns 5 percent interest per year?
The answer, assuming compounding once per year and using generic monetary units (MUs), is MU123. In the first year, MU1,200 earning 5% generates MU60 of interest. The MU60 earned the first year is added to the original MU1,200, allowing us to earn interest on MU1,260 in the second year. MU1,260 earning 5% generates MU63. So, MU60 + MU63 is equal to MU123. The answers will be different assuming different compounding periods as follows: Compounding Period Two Years of Interest No compounding MU120.00 Yearly compounding MU123.00 Six-month compounding MU124.58 Quarterly compounding MU125.38 Monthly compounding MU125.93 Daily compounding MU126.20 Continuous compounding MU126.21
The accumulation of funds over time where previous interest earned remains in the account to earn additional interest is called?
compounding interest.... i think
What is the term for a type of account that earns interest as money is deposited?
money
You deposit 265 in a bank account that offers 5 annual compounding interest. At the end of five years your total earnings in interest are?
$73.21
What is an example of interest-bearing account?
An Interest bearing account is a bank account in which, the banks pays you an interest for keeping your money deposited in that account. Ex: Savings Bank Account - You usually get around 3.5% rate of interest on the money you hold in your savings account in India.
You opened a savings account with the deposited 5000 in a six percent interest rate compounded daily what is the amount in the account after 180 days?
If you opened a savings account and deposited 5000 in a six percent interest rate compounded daily, then the amount in the account after 180 days will be 5148.
What type of interest is interest paid on the amount of your original deposit plus on any interest that you have earned previously on the money in an account?
it is any interest after the first compounding there isn't a special name for it...
How does one collect their accrued interest?
Accrued interest is obtained when the payment is received to the borrower. When the payment is received, interest is then realized and deposited into your account.
Troy and his wife Angela put 5000.00 of their savings into a bank account earning 7.25 percent interest How much will Trey and Angela have in all after 3 years?
Amount Deposited = 5000 Rate of Interest = 7.25 Years = 3 Interest earned = 5000 * 7.25 * 3 / 100 = 1087.50 They will have 6087.50 at the end of 3 years (Under the assumption that no compounding was involved)
What does compounded annually mean?
At the end of the year the interest is deposited in the account. The next year the interest is figured on the principal plus last year's interest.
What are real world applications of integrals?
Most likely, you will not be doing integrals as part of your daily life, but knowing how integrals work, can help you understand how some things work. Foir example, the interest earned on an interest bearing account (like a savings account) when compounded daily, is close to the value for 'continuous compounding'. The rate curve represents the interest earned at a particular time, and the area under the curve (the integral of the function) represents the total accumulated interest.
