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If your travel costs 2000 and you have 1500 and you invest this money at 3 percent interest rate compounded annually how long will it take to earn enough money for the trip?
Wiki User
∙ 13y ago
Also, I have to use the formula:
Use the compound interest formula A = P (1 + i)n, where A is the accumulated amount, P is the principal, i is the interest rate per year, and n is the number of years.
Wiki User
∙ 13y ago
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How much needs to be deposited now to have 10000 in eight years if it earns 6 percent compounded annually?
6275 will be worth 10001.40 while 6274 will not be enough.
How long will it take to double principal if invested at 5.25 compounded quarterly?
The simple answer is approximately 13.7 years using the rule of 72. Interest paid quarterly will affect the answer a little, but not enough to matter.
How much interest is gained on two hundred thousand dollars?
There is not enough information in the question ! It depends entirely on what the interest rate is - and the length of time the interest is applied !
What is the interest earned on 600000?
Not enough information. The interest earned depends on the capital (which is the only datum provided), on the interest rate, on the time (for example, how long you leave interest in your bank), and on whether simple or compound interest was agreed.
What is 125 percent as a percentage?
Funnily enough, it is 125%
How much needs to be deposited now to have 10000 in eight years if it earns 6 percent compounded annually?
6275 will be worth 10001.40 while 6274 will not be enough.
Zoe needs 30000 for college in 12 years time Will she have enough money for college if she invests 7250 at 10 interest compounded annually now?
no she will be short by some money around 7000
The core service concepts identified by Karl Albrecht?
Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$8200; money earns 5% compounded annually; 4 annualy payments
How much interest does a million dollars earn in a day?
This really depends on your interest rate and how often your interest rate is calculated. Let's assume you have a 4% interest rate, compounded, that is calculated once per month. That equals just under $110 per day! A higher/lower interest rate can change things drastically and how often your interest is calculated can as well. If your interest is calculated annually, you won't really make much. If your interest rate is .2%, the effect is the same. A 4% rate is common enough and monthly calculation on compound interest is also pretty normal. If you had 1 million dollars to put into a savings account however, you'd probably already know these money facts! Enjoy!
How long will it take to double principal if invested at 5.25 compounded quarterly?
The simple answer is approximately 13.7 years using the rule of 72. Interest paid quarterly will affect the answer a little, but not enough to matter.
How long will it take 750 to double at 8 percent compounded annually?
year 0 = 750.00 year 1 = 810.00 (750 x 1.08) year 2 = 874.80 year 3 = 944.78 year 4 = 1020.36 year 5 = 1101.99 year 6 = 1190.15 year 7 = 1285.36 year 8 = 1388.19 year 9 = 1499.25 (close enough)
How long will it P 6500 amount to P 7700 at 8 percent if compounded semi-annually?
In 2 years it will be 7581.6In 2.5 years it will be 7879.03So 2.5 years will be enough.In 2 years it will be 7581.6In 2.5 years it will be 7879.03So 2.5 years will be enough.In 2 years it will be 7581.6In 2.5 years it will be 7879.03So 2.5 years will be enough.In 2 years it will be 7581.6In 2.5 years it will be 7879.03So 2.5 years will be enough.
How much does an average family spend on camping annually?
not enough
What percent is equivalent to 0.5 percent?
Strangely enough, the answer is 0.5 percent!
How often does the oktoberfest agricultural show take place?
Annually. Oddly enough in September.
Did one farmer raise enough food to annually feed 80 people?
fase
In 1850 one farmer raised enough food to feed annually five people?
true
