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Belle wants to know what her new balance will be if she places 560.25 into an account that pays 2.5 percent annual interest for 10 years?
700.31
What is the annual opportunity cost of a checking account that requires a 500 minimum balance to avoid service charges. Assume an interest rate of 3 percent?
15.00
What is the annual opportunity cost of a checking account with a 6.5 percent interest rate that requires a 350.00 minimum balance to avoid service charges?
$350 * 6.5% = $22.75
What is monthly interest if balance is 20500 at interest rate of 6.5 percent?
Assuming 6.5% refers to the annual interest rate, the monthly interest is 111.04 approx.
If an account balance is being charged 1 percent interest per week is this the same thing as saying 52 percent per year. What is the equation for finding the true annual rate of interest?
No if the account earns interest daily, it's earning interest on interest essentially. So if you have $100 and you earn 1% interest, you would have $101 dollars the next day and earn 1.01 dollars in interest, and so on.
Calculate the simple interest you would receive in five years on a savings account that earns 7.5 percent annual interest What if your beginning balance is 1236.59?
463.72
Calculate the simple interest you would receive in one year on a savings account that earns 5 percent annual interest What if your beginning balance is 255.19?
12.76
Belle wants to know what her new balance will be if she places 560.25 into an account that pays 2.5 percent annual interest for 10 years?
700.31
What is the annual opportunity cost of a checking account that requires a 500 minimum balance to avoid service charges. Assume an interest rate of 3 percent?
15.00
What is the annual opportunity cost of a checking account with a 6.5 percent interest rate that requires a 350.00 minimum balance to avoid service charges?
$350 * 6.5% = $22.75
How is the interest on a savings account calculated?
The interest on a savings account is calculated by multiplying the account balance by the interest rate and the time the money is held in the account. This calculation is typically done on a monthly or annual basis.
What is the annual compound interest rate for an investment account modeled by the function y 12 1.18t?
The annual compound interest rate is 18 percent.
What is monthly interest if balance is 20500 at interest rate of 6.5 percent?
Assuming 6.5% refers to the annual interest rate, the monthly interest is 111.04 approx.
If an account balance is being charged 1 percent interest per week is this the same thing as saying 52 percent per year. What is the equation for finding the true annual rate of interest?
No if the account earns interest daily, it's earning interest on interest essentially. So if you have $100 and you earn 1% interest, you would have $101 dollars the next day and earn 1.01 dollars in interest, and so on.
If you have an account with an annual simple interest rate of 2.1 percent. You have a principle of 450.00. calculate your interest and your principle for two years?
18.90currency as an interest..
If my account balance is 255.19 and in one year ill earn 5 percent what is the annual interest?
Calculate 5% of 255.19 - that is, 0.05 x 255.19.
What is the principal balance if the principal plus interest at the end of 1 and a half years is 3360 at an annual interest rate of 8 percent?
3000
