13468.02
189.89
No. If the account is earning interest the current amount should be greater than the initial deposit.
Formula for annual compound interest: at the end of the term balance will be P x (1+ I/100)t where P is original investment I = interest rate and t = term. In this case P = 8459, I = 6 and t = 8, so the calculation is 8459 x (1.06)8 = 8459 x 1.593848 = 13482.36
Assuming you deposit the money on the first day of each year you will have 2,124 from the 1,400 you'd deposited earning a total of 724 interest
£765.31
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.
$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.
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.
Yes. Currently it is 8.6% per annum compounded annually
189.89
No. If the account is earning interest the current amount should be greater than the initial deposit.
30.00
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
4000 x (1.0610) = $7163.39
$10608
Roxanne deposited $300 into a savings account earning 5¼% annually. What is her balance after 1 year
7954/- At the end of 5 years - 2928/- At the end of 10 years - 4715/-