0
Still curious? Ask our experts.
Chat with our AI personalities
Ezra
Rene
BlakeAdd your answer:
Earn +20 pts
Does the more compounding periods per year decreases the total amount of interest you receive over the year?
No. The more often it's compounded, the more interest you receive,and the faster your investment grows.
What is the balance on 2500 deposit at 3 percent compounded annually for 3 years?
After 1 year, you would have 2,500 * 1.03 = 2,575. After the 2nd year you would have 2,575 * 1.03 = 2,652.25. After the 3rd year you would have 2,652.25 * 1.03 = 2731.8175 or rounded to $2,731.82. The formula for this is FV = PV * (1+i)^n, where FV = future value, PV = present value, i = interest rate per compounding period, and n = number of periods.
How much interest is earned on R9 000 invested for five years at 8 percent per annum and compounded annually?
For compound interest F = P*(1 + i)^n. Where P is the Present Value, i is the interest rate per compounding period, and n is the number of periods, and F is the Future Value.F = (9000)*(1 + .08)^5 = 13223.95 and the amount of interest earned is 13223.95 - 9000 = 4223.95
How do you change dollars per year to dollars per hour?
Divide by the number of hours per year that you claim to work for.
How much per year is 80 dollars per hour?
It depends on the number of hours worked in a year!
