200/100*6.5+200 = year 1 "213"
213/100*6.5+213 = year 2 "226.845"
226.845/100*6.5+226.845 = year 3 "241.59"
241.59/100*6.5+241.59 = year 4 "257.293"
257.293/100*6.5+257.293 = year 5 "274.017"
177.50
It depends on how you deposit the money 5000 dollars. Checking accounts usually pay very little or 0 interest so we won't be taking that as an option. a. Savings Account - Savings account usually earn around 1% interest per year. So it will be: 50 dollars in 1 year b. Certificate of Deposit - CD's usually earn around 4% interest per year. So it will be: 200 dollars in 1 year
1927.23 IF the interest is compound (accrued on the totalsum each year)... 1891.00 IF the interest is simply calculated on the initial deposit.
$972.00From Superscot85: Above answer is for Simple Interest. You specifically stated "compound" so after 2 years balance will be 900 x (1.04)2 ie 973.44
$330.00
50,940 dollars
177.50
775
$11,573.02 if you deposit at the beginning of the quarter or $11,444.27 if you deposit at the end of the quarter
$775
215
$810
It depends on how you deposit the money 1 million. Checking accounts usually pay very little or 0 interest so we won't be taking that as an option. a. Savings Account - Savings account usually earn around 1% interest per year. So it will be: 833.33 dollars in 1 month b. Certificate of Deposit - CD's usually earn around 4% interest per year. So it will be: 3333.33 dollars in 1 month
100
It depends on how you deposit the money 5000 dollars. Checking accounts usually pay very little or 0 interest so we won't be taking that as an option. a. Savings Account - Savings account usually earn around 1% interest per year. So it will be: 50 dollars in 1 year b. Certificate of Deposit - CD's usually earn around 4% interest per year. So it will be: 200 dollars in 1 year
Lets say you deposit 1 million dollars in a bank. lets see how much interest the money will gain in a bank It depends on how you deposit the money 1 million. Checking accounts usually pay very little or 0 interest so we won't be taking that as an option. a. Savings Account - Savings account usually earn around 1% interest per year. So it will be: 833.33 dollars in 1 month b. Certificate of Deposit - CD's usually earn around 4% interest per year. So it will be: 3333.33 dollars in 1 month
1927.23 IF the interest is compound (accrued on the totalsum each year)... 1891.00 IF the interest is simply calculated on the initial deposit.