$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
1 x (1.03)40 = 3.26
Quarterly compounding means 1/4 of the annual interest rate is paid 4 times a year.In 6 years, you get 2.5 percent 24 times.(1.025)24 = 1.80873 (rounded)Your $12,000 has then grown to (12,000 x 1.80873) = $21,704.71 .Can I send you some money to add to the account for me ?
7 per cent each quarter is equivalent to 31.08% over one year. At that rate 300 dollars would be worth 393.24 dollars.
A= Principle amount(1+ (rate/# of compounded periods))(#of compounding periods x # of years)
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
8 percent compounded quarterly is equivalent to approx 36% annually. At that rate, after 3 years the ending balance would be 1762.72 approx.
1 x (1.03)40 = 3.26
It would earn more if interest were compounded quarterly but any lender will adjust the quarterly rate so that you get the same! For example, a 5% annual rate is equivalent to a rate of 4.9089% per quarter. This is one reason that some countries require the publication of Annual Equivalent Rates to enable investors to compare such differences.
Approx 44.225 % The exact value is 100*[3^(1/3) - 1] %
The answer will depend on whether the 8% refers to a quarterly rate or an annual equivalent rate.5 years = 5*4 = 20 quarters.At a quarterly rate, it is 2000*(1.08)20?= 9321.66 approx.At an annual equivalent rate of 8% (that is 1.94% per quarter), ?the total is 938.66 approx.?The answer will depend on whether the 8% refers to a quarterly rate or an annual equivalent rate.5 years = 5*4 = 20 quarters.At a quarterly rate, it is 2000*(1.08)20?= 9321.66 approx.At an annual equivalent rate of 8% (that is 1.94% per quarter), ?the total is 938.66 approx.?The answer will depend on whether the 8% refers to a quarterly rate or an annual equivalent rate.5 years = 5*4 = 20 quarters.At a quarterly rate, it is 2000*(1.08)20?= 9321.66 approx.At an annual equivalent rate of 8% (that is 1.94% per quarter), ?the total is 938.66 approx.?The answer will depend on whether the 8% refers to a quarterly rate or an annual equivalent rate.5 years = 5*4 = 20 quarters.At a quarterly rate, it is 2000*(1.08)20?= 9321.66 approx.At an annual equivalent rate of 8% (that is 1.94% per quarter), ?the total is 938.66 approx.?
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.
y = ln(3)/ln(1.0575) = 19.65 years, approx.
An annual rate of 6.4% compounded quarterly means 1.6% (6.4/4) every 3 months (12/4). A period of 7 years is equivalent to 28 (7 x 4) compounding periods. Let say that the account balance is N dollars, so N = 3,000(1.016)^28 (100% + 1.6% = 1.016) N = $4,678.914
It means that the interest is paid out every three months (quarter year). That means that the interest paid out after 3 months is earning interest for the remaining nine months. The quarterly interest rate is such that this compounding is taken into account for the "headline" annual rate. As a result, if the quarterly interest is taken out, then the total interest earned in a year will be slightly less than the quoted annual rate.
Compounded annually: 2552.56 Compounded monthly: 2566.72
The definition of periodic interest rate is an interest rate figured over a specific time frame. Compound interest is also figured on a specific time frame. For instance, some interest is compounded quarterly, some is compounded annually or semi-annually, or even monthly.