Study guides

☆☆

Q: Ryan wants to place 700 into a savings account for five years He wants to deposit 400 at 4.0 percent interest and the rest in another account at 6.5 percent interest What would his amount of interest?

Write your answer...

Submit

Still have questions?

Continue Learning about Math & Arithmetic

Two and a half percent of 750 ie 2.5 x 7.5 which is 18.75

7.5 x 2.5 ie 18.75

You will have 1903.737 dollars in your account at the end of 13 years. The year wise end balance will be:756816.48881.798952.3421028.531110.8121199.6771295.6511399.3031511.2471632.1471762.7191903.737This is under the assumption that you don't deposit any fresh funds into your account and initial 700 dollars + the accumulated interest is all that is available in the account.

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

$5.77

Related questions

24.88

177.50

5000

50,940 dollars

775

$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

Two and a half percent of 750 ie 2.5 x 7.5 which is 18.75

7.5 x 2.5 ie 18.75

(10000)(0.8)(5)/100 ~ 10400

$775

215

$810

People also asked

Featured Questions