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Earn +20 ptsQ: What is the balance on a deposit of 1200 earning 9.5 percent interest compounded semiannually for 10 years?
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How much money will you have at the end of one year if interest is compounded semiannually at 10 percent on a 600 deposit?
It will be 726.
What if Jennifer deposited 10000 in an account that earns compound interest. The annual interest rate is 8 and the interest is compounded 2 times a year. The current balance in the account is 10?
No. If the account is earning interest the current amount should be greater than the initial deposit.
You deposit 700 in an account that pays 8 percent interest compounded yearlyfind the balance after 13 years?
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.
What is the balance on 2500 deposit at 6 percent compounded annually for 3 years?
2500 * 1.06^3 = 2977.54
What lump sum will Jim need to deposit now in an account paying 7.25 percent compounded quarterly if he wants to have a balance of 50000 in 15 years?
He should deposit 17017.82
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