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Q: 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?
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What does compounded annually mean?

At the end of the year the interest is deposited in the account. The next year the interest is figured on the principal plus last year's interest.


If you deposit 10000 in a bank account that pays 10 percent interest annually how much would be deposited in your account after 5 years?

$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.


You opened a savings account with the deposited 5000 in a six percent interest rate compounded daily what is the amount in the account after 180 days?

If you opened a savings account and deposited 5000 in a six percent interest rate compounded daily, then the amount in the account after 180 days will be 5148.


Do you get any interest on the sum saved in provident fund account?

Yes. Currently it is 8.6% per annum compounded annually


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 if Jennifer deposited 10000 in an account that earns compound interest. The annual interest rate is 8 and the interest is compounded 2 times a year. The current balance in the account is 10?

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


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


How much should be deposited today in an account that earns 6 compounded semiannually so that it will accumulate to 10000 in 3 years using present value?

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


If 4000 dollars is invested in a bank account at an interest rate of 6 per cent per year what will be the amount after 10 year if interest is compounded annually?

4000 x (1.0610) = $7163.39


Ernestine deposited $6800 into a savings account that earns 3.5% simple interest each year calculated annually. What is the future value of Ernestine's account after 16 years?

$10608


Roxanne deposited 300 into a savings account earning 5 annually What is her balance after 1 year?

Roxanne deposited $300 into a savings account earning 5¼% annually. What is her balance after 1 year


You deposit 2000 in a savings account that pays 10 percent interest compounded annually How much will your account be worth in 15 years?

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