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In the event that it really was 5% daily, you would earn nearly 2.5*1041. By way of comparison, the current value of the total world output is less than 100 trillion USD or 1014 USD. So, it would be worth the total world output for 2.5 octillion years. Somehow I don't think so.
However, when banks say 5% compounded daily what they are really saying is the daily equivalent of 5% per year - that is to say 0.0149% daily - but compounded (added to your capital) on a daily basis.
It terms of the calculations, then it is the same as 5% for 5 years. And that is 138.14 units of currency.
What else can I help you with?
How much will your 10 million dollar account earn at the end of two years if it is compounded monthly at 6 percent?
14,400,000 dollars
How much interest will 10000 earn in 18 months if invested at 8 percent compounded semiannually?
1200
What would the value of 100 after 10 years if you earn 11 percent interest per year?
With compounded interest, it would be 100*(1 + 11/100)10 = 283.94
How much will 20k earn in 5 yrs if invested at 10 percent compounded semiannually?
If every six months the capital earn 10% interest which is compounded, at the end of 5 years, the interest will be 31875. If the annual interest rate is 10%, it makes no difference how often it is compounded. The six monthly interest rate is adjusted - to 4.88% rather than 5% - so that the total interest for a year is 10%.
How much interest will 900 earn in one year at 4.75 percent?
4.75 percent of 900 is 42.75 . A few pennies more if the interest is compounded at any time during the year. For example, if interest is compounded every month, then you have 43.69 at the end of the year.
How much interest will 2000 earn at 5 percent over four years compounded yearly?
It earns 431.0125 . After 4 years, it has grown to 2,431.01 .
How much interest will 20000 earn in two years if invested at 6 percent compounded semiannually?
$5,249.54
How much will your 10 million dollar account earn at the end of two years if it is compounded monthly at 6 percent?
14,400,000 dollars
How much interest will 10000 earn in 18 months if invested at 8 percent compounded semiannually?
1200
What would the value of 100 after 10 years if you earn 11 percent interest per year?
With compounded interest, it would be 100*(1 + 11/100)10 = 283.94
How much will 20k earn in 5 yrs if invested at 10 percent compounded semiannually?
If every six months the capital earn 10% interest which is compounded, at the end of 5 years, the interest will be 31875. If the annual interest rate is 10%, it makes no difference how often it is compounded. The six monthly interest rate is adjusted - to 4.88% rather than 5% - so that the total interest for a year is 10%.
If Mary deposits 275 in principal at an interest rate of 3.2 percent how much interest will she earn in one year?
Before she chooses a bank and deposits her money, Mary should shop around first.There are different kinds of interest.At 3.2% . . .If it's simple interest, her money will earn $ 8.80 .If it's compounded quarterly, it earns $ 8.91 in one year.If it's compounded monthly, it earns $ 8.93 .If it's compounded daily, it earns $ 8.94 .Also, by the way, notice that Mary doesn't earn the interest. Her invested money does.
How much interest will 900 earn in one year at 4.75 percent?
4.75 percent of 900 is 42.75 . A few pennies more if the interest is compounded at any time during the year. For example, if interest is compounded every month, then you have 43.69 at the end of the year.
What if your bank account pays a nominal interest rate of 6 percent but interest is compounded daily on a 365-day basis What if your plan is to deposit 500 in the account today You also plan to deposi?
With daily compounding, your account balance will grow faster compared to other compounding frequencies. At a 6% nominal interest rate compounded daily, your initial deposit of $500 will earn daily interest and accumulate more over time. Depositing additional funds will speed up the growth of your account due to the daily compounding effect.
Lateisha would like to know how much money she will earn if the interest is compounded monthly for a period of two months on a savings account that pays 6 percent interest on 2000?
20.05
What percent of teen mothers graduate or earn a GED within 2 years of their graduating class?
63 percent
What percent of teen mothers graduate or earn GED within 2 years of their graduating class?
63 percent
