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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.

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Q: If you deposit 4000 in a bank account that pays 8 percent interest compounded annually how will you have in 6 years?

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No. If the account is earning interest the current amount should be greater than the initial deposit.

Per annum compound interest formula: fv = pv(1+r)^t Where: fv = future value pv = present (initial) value r = interest rate t = time period Thus, fv = 1000*(1+0.07)^5 = 1000*1.4025517307 = $1402.55

The total value of the deposit will be $1248.929 at the end of 5 years. The year wise ending balance would be:918991.441070.7551156.4161248.929 This is under the assumption that the interest of 8% is compounded annually.

Deposit 4776.06 The frequency of compounding does not matter since the annual interest rate is given.

9.5% semi-annually = 19.9025% annually.After 10 years 1200*(1.199025)^10 = 7369.93

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$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.

7954/- At the end of 5 years - 2928/- At the end of 10 years - 4715/-

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No. If the account is earning interest the current amount should be greater than the initial deposit.

$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

To have an account at Beneficial Mutual Savings Bank you need to deposit at least$50. The interest is compounded daily. It has the best rates also. Good place to have an account.

Per annum compound interest formula: fv = pv(1+r)^t Where: fv = future value pv = present (initial) value r = interest rate t = time period Thus, fv = 1000*(1+0.07)^5 = 1000*1.4025517307 = $1402.55

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

Deposit 4776.06 The frequency of compounding does not matter since the annual interest rate is given.

The total value of the deposit will be $1248.929 at the end of 5 years. The year wise ending balance would be:918991.441070.7551156.4161248.929 This is under the assumption that the interest of 8% is compounded annually.

9.5% semi-annually = 19.9025% annually.After 10 years 1200*(1.199025)^10 = 7369.93

$973.44

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