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How much interest is earned for the investment 20000 for 2 years at 5 compounded annually?
To calculate the interest earned on an investment of $20,000 compounded annually at a rate of 5% for 2 years, you can use the formula for compound interest: ( A = P(1 + r)^n ), where ( A ) is the amount of money accumulated after n years, ( P ) is the principal amount, ( r ) is the annual interest rate, and ( n ) is the number of years. Plugging in the values: ( A = 20000(1 + 0.05)^2 = 20000(1.1025) = 22050 ). The interest earned is ( A - P = 22050 - 20000 = 2050 ). Thus, the interest earned over 2 years is $2,050.
Where in life do WE use negative numbers?
When people are in debt! You can owe people so much money that you actually have a negative amount of money.
How do you calculate the interest earned in one year?
To calculate the interest earned in one year, you can use the formula: Interest = Principal × Rate × Time. Here, the Principal is the initial amount of money invested or borrowed, the Rate is the annual interest rate (expressed as a decimal), and Time is the duration in years (which is 1 for one year). For example, if you have a principal of $1,000 and an annual interest rate of 5%, the interest earned in one year would be $1,000 × 0.05 × 1 = $50.
Rachael spent 36.32 in the grocery store she paid the exact amount and used exactly 4 bills and 4 coins what bills and coins did rachel use?
800
What is the answer to the question Sam bought two Cd's for A dollars Eachelle's tax for both was 3 dollars . write an expression to show how much Sam paid in all?
To find the total amount Sam paid for the two CDs, you can use the expression (2A + 3), where (A) represents the price of each CD in dollars. The term (2A) accounts for the cost of the two CDs, and the (3) represents the tax on both CDs. Therefore, the total amount Sam paid is the sum of the cost of the CDs and the tax.
Is the amount of money paid or earned for the use of money?
Interest is earned or paid for the use of money
The amount paid or earned for the use of money?
simple intrest
Why does paid in capital and earned capital need to be kept separate?
Paid in Capital is the amount of investment a shareholder has contributed to the business for use and earned capital is the amount of profit that has been generated by the business itself. It must be separate for investor and shareholder information so that the difference between the two can be clearly stated.
Which concept does Adam Smith use to describe the amount of money commonly paid for any commodity?
Market price
What concepts does Adam smith use to describe the amount of money commonly paid for any commodity?
Market price
What is additional money that is paid for the use of a large sum of money?
The additional money paid for the use of a large sum of money is typically referred to as "interest." Interest is the cost of borrowing money, calculated as a percentage of the principal amount over a specific period. It compensates the lender for the risk and opportunity cost associated with lending the funds.
Is money paid for the use of money?
Interest.
What is another name for the rent paid to use someone else's money?
rent paid for the use of money is called what?
Which concept does Adam smith use to describe the amount of money commonly paid for any comodity?
Market price
What is money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
What is the money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
What is a percentage of the total amount you have in the bank that is paid into your account?
The percentage of the total amount in your bank account that is paid into your account typically refers to interest earned on your balance. For example, if you have $1,000 in your account and your bank pays an annual interest of 2%, you would earn $20, which is 2% of your total amount. To calculate the percentage, you can use the formula: (interest earned / total amount) x 100. This percentage varies based on the bank's interest rates and account type.
