0
What else can I help you with?
How much money should be deposited today in an account that earns 6 percent compounded semi annually so that it will accumulate to 20000 in five years?
189.89
What do you get if You deposit 750.00 in an account that earns 5 percent simple interest How much interest will your money earn in 6 months?
Two and a half percent of 750 ie 2.5 x 7.5 which is 18.75
A teacher deposited 3000 in a retirement fund If she didnt add any more money to the fund which earns an annual interest rate of 6 percent how much money would she have in 1 year?
180
How much money would you need in your account to make 6000 in interest at a rate of percent 4 percent in a year?
You would need 6000/0.04 = 150,000.
When invested at an annual interest rate of 8 percent an account earned 336 of simple interest in one year How much money was originally invested in the account?
Let P be the amount of invested money. Then, .08P = 336 P = 336/.08 = 4,200
What is the term for a type of account that earns interest as money is deposited?
money
How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?
"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?
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 happens to the money that you deposit in a savings account at a bank?
When you deposit money in a savings account at a bank, the bank uses that money to make loans to other customers and earn interest. In return, the bank pays you interest on the money you have deposited in your savings account.
Can money be deposited into frozen account?
Yes money can be deposited in account when frozen but cannot be taken out.
What happens when money is deposited in account is it credited or debited?
deposited money is credited to your concern bank account
Karen deposited 8500 dollars in a college savings account for her grandson The account earns an annual simple interest rate of 6.5 percent How much money will she have at the end of ten years?
8500 x ((1.065) to the 10th power) = 15955.67
What is the purpose of a savings?
A Savings Account is a type of account that is designed to promote savings among the general public. You can deposit and withdraw money from this account but at the same time the bank offers you an interest on the money deposited into the account.
Is the money depositable into this account?
Yes, the money can be deposited into this account.
Does all money deposited in a bank earn interest?
No. Money deposited in checking/current accounts do not earn any interest.
Can you explain how earning interest works?
Earning interest is when you receive money on top of the amount you originally invested or deposited. The interest is a percentage of the initial amount, and it is paid to you by the bank or institution where you have your money. The more money you have and the longer you keep it in the account, the more interest you can earn.
Sara's grandmother gave her 3000.00 to save for college She put it in a savings account that earns 6 percent per year The money was in the account for 8 years How much simple interest did she earn?
Amount Deposited: $3000 Rate of Interest: 6% No. of Years: 8 Formula for Simple Interest = 3000 * 6 * 8 / 100 The simple interest she will earn in 8 years is $1440
