$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
If interest is 2.75% per annum and is compounded quarterly, then aninitial investment of $2,000 will amount to $2,630.58after 10 years.
1 x (1.03)40 = 3.26
Roughly 11,669.70
You would need 9687 dollars.
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
Since the annual interest rate is given, the fact that the interest is calculated and compounded quarterly is not relevant. The interest is 750000*2.5/100 = 18750 pesos.
$44,440.71
If interest is 2.75% per annum and is compounded quarterly, then aninitial investment of $2,000 will amount to $2,630.58after 10 years.
8 percent compounded quarterly is equivalent to approx 36% annually. At that rate, after 3 years the ending balance would be 1762.72 approx.
$491
compounded annually--$43,219 compounded quarterly--$44,402 compounded monthly-- $44,677 compounded daily--$44,812
1 x (1.03)40 = 3.26
That depends whether the bank is giving you simple interest or compound interset and if it is compound interest is it compounded daily, monthly, quarterly, halfyearly and so on. Assuming it is simple interest, at the end of the year will have 100 + 2 = 102 dollars.
That depends on how the interest works.Is it simple interest ? Is it compound interest ?If compound, then how often is it compounded ?8% simple interest turns $2 into $40 in 237.5 years .8% compound interest, compounded quarterly, does the job in 37.8 years .As you can see, it makes quite a difference.
Roughly 11,669.70
You would need 9687 dollars.