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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
How do you converts interest rate from compounding quarterly to compound annually?
Interest of r% per quarter is equivalent to {(1+r/100)4 - 1} percent annually.
How much interest will be earned in an account into which 1000 is deposited for one year with continuous compounding at a 13 percent rate?
The "13 percent rate" is the equivalent annual rate. So the interest will be 130.
If you deposit 4000 in a bank account that pays 8 percent interest compounded annually how will you have in 6 years?
Annual interest calculates how much is in the bank at the time of compounding, then adds the percentage of interest. In this case, every year after the first slightly more than 8 percent of the 4 thousand initial deposit. In this particular case, at the end of the sixth year, you would have 6,347 dollars and 50 cents.
Eric earns 6.5 percent simple interest annually on his savings account he has a beginning balance of 459.32 How much interest does he receive?
29.86
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
How do you converts interest rate from compounding quarterly to compound annually?
Interest of r% per quarter is equivalent to {(1+r/100)4 - 1} percent annually.
How much interest will be earned in an account into which 1000 is deposited for one year with continuous compounding at a 13 percent rate?
The "13 percent rate" is the equivalent annual rate. So the interest will be 130.
Franklin has 2500 in a savings account that pays interest at the rate of 4 percent annually. How much interest will he earn after one year?
4% of 2500 = 2500*4/100 = 100 Assuming there is no compounding - The above calculation is appropriate and 100 is the interest earned by Franklin at the end of one year. There are banks that offer quarterly or half yearly compounding wherein, the interest earned in the first quarter would be considered as principal in the second quarter. In that case, the calculation would vary. In the UK the quoted rate must be the annual equivalent rate which takes any compounding into account. So 4 percent annually (as stated in the question), could be 1.98% every six months, or 0.3274% every month. But at the end of one year the compounded interest must be 4%. Other countries will have different regulations.
Interest on 5000000.00 at 3 percent?
150,000 per year (simple interest, no compounding)
If you deposit 4000 in a bank account that pays 8 percent interest compounded annually how will you have in 6 years?
Annual interest calculates how much is in the bank at the time of compounding, then adds the percentage of interest. In this case, every year after the first slightly more than 8 percent of the 4 thousand initial deposit. In this particular case, at the end of the sixth year, you would have 6,347 dollars and 50 cents.
Eric earns 6.5 percent simple interest annually on his savings account he has a beginning balance of 459.32 How much interest does he receive?
29.86
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
How much interest should the account earn per year if you opened a bank account and deposited 500.00 and it earns 6 percent annually?
30.00
X deposits Rs 100000 in the bank annually If the bank has a policy of continuous compounding and the prevailing interest rate is 11.5 percent how much would his deposit grow upto in 2years?
100000
900 in savings account that earns 4 percent interest after two years how much is in the account if no deposits or withdrawals have been made?
It depends on the compounding frequency of the rate of interest earned on your bank account. Some banks compound the interest yearly and some do it quarterly. If the interest is compounded every year you will have 973.44 at the end of 2 years.
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
