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189.89
£765.31
13468.02
11000*(1.045)^4=$13117.70stop cheating on your math homework
No. If the account is earning interest the current amount should be greater than the initial deposit.
The amount required is 7641.49
189.89
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.
6% compounded annually is equivalent to an annual rate of 12.36%. To increase, at 12.36% annually for 3 years, to 10000, the initial deposit must be 7049.61
£765.31
13468.02
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.
$16,105.10 if compounded yearly, $16,288.95 if compounded semi-annually, $16,386.16 if compounded quarterly, $16,453.09 if compounded monthly, and $16,486.08 if compounded daily.
11000*(1.045)^4=$13117.70stop cheating on your math homework
No. If the account is earning interest the current amount should be greater than the initial deposit.
Yes money can be deposited in account when frozen but cannot be taken out.
4.0730% compounded daily3.1172% compounded monthly2.0365% compounded daily