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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 difference between actuarial interest and simple interest?
Actuarial interest takes into account compounding over time, while simple interest does not consider compounding.
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
What does compounding frequency refers to?
Compounding frequency refers to how often interest is applied to the principal amount in an investment or loan. The higher the compounding frequency, the more frequently interest is calculated and added to the account, resulting in faster growth of the investment or increased interest costs on the loan.
The accumulation of funds over time where previous interest earned remains in the account to earn additional interest is called?
compounding interest.... i think
How calculated effective yield?
Effective yield is calculated by taking into account the impact of compounding interest on an investment. It is the total return on an investment over a specific period, factoring in both interest payments and the effects of compounding. The formula for effective yield is: Effective Yield = (1 + (Nominal Interest Rate / Compounding Period))^Compounding Period - 1.
How is the APY calculated on a CD?
The APY on a CD is calculated by taking into account the interest rate and the frequency of compounding. It is a measure of the total amount of interest earned on the CD over a year, including the effects of compounding.
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.
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...
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.
