0
$973.44
Mostly your account would become dormant. Most banks have some specifications of the number of minimal transactions that need to be done on an account for it to remain active.
If you do not have any deposits/withdrawals for more than 1year the account would become dormant and you may have to visit the branch and re-activate it.
What else can I help you with?
How much is in a savings account that started with 1500 and earned 4.25 percent compound interest for 2 years Round to the nearest cent?
How old is this problem that you're getting 4.25 percent on a savings account? Never mind. You don't mention how often the interest is compounded, so I'll assume it's yearly, and there are no deposits or withdrawals. 4.25 percent of 1500 is 63.75, so you have 1563.75 after one year. 4.25 percent of 1563.75 is 66.46, so you have 1630.21 after two years.
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.
June deposited 8450 in an account that pays 6 percent interest compounded annually find the amount she will have in the account at the end of 8 years?
13468.02
You deposit 900 in a saving account that earns 4 percent interest compounded once a year and has no service charges you do not make any deposit or withdrawals to the account for two years at the end o?
result= (original)x(1+ rate/frequency)^ (frequency)(time) x= (900)x(1+0.04/1)^ (1)(2) x= 973.44
Jim has 500 in his bank account at the start of the year If his account pays out 3.4 percent interest compounded monthly how much money should he have at the end of the year?
704
You deposit 900 in a savings account that earns 4 percent interest compounded once a year and has no service charges you do not make any deposits or withdrawals to the account for two years at the end?
$973.44
900 in savings account that earns 4 percent interest after two years how much is in the account if no deposits or withdrawals have been made?
It depends on the compounding frequency of the rate of interest earned on your bank account. Some banks compound the interest yearly and some do it quarterly. If the interest is compounded every year you will have 973.44 at the end of 2 years.
What is the meaning of square the account?
When you square an account, you have brought it up to date in terms of all deposits and withdrawals.
Sam has a savings account that increased in value over a twelve month period from 8765.00 to 9006.04 He made no deposits or withdrawals in that time What annual percent interest did he receive?
2.75
How do you use a checkbook ledger?
an informal recored of all deposits to and withdrawals from a given checking account
Is a savings account a time deposit?
No, a savings account is not a time deposit. A savings account typically allows for unlimited deposits and withdrawals, while a time deposit requires the funds to be held for a fixed period of time in exchange for a higher interest rate.
What kind of savings account is 401k?
A 401k is a retirement savings account which has very strict rules and regulations concerning deposits and withdrawals.
You opened a savings account with the deposited 5000 in a six percent interest rate compounded daily what is the amount in the account after 180 days?
If you opened a savings account and deposited 5000 in a six percent interest rate compounded daily, then the amount in the account after 180 days will be 5148.
How much is in a savings account that started with 1500 and earned 4.25 percent compound interest for 2 years Round to the nearest cent?
How old is this problem that you're getting 4.25 percent on a savings account? Never mind. You don't mention how often the interest is compounded, so I'll assume it's yearly, and there are no deposits or withdrawals. 4.25 percent of 1500 is 63.75, so you have 1563.75 after one year. 4.25 percent of 1563.75 is 66.46, so you have 1630.21 after two years.
How is interest paid?
Interest is paid on an amount that you have with a financial institution. The will give you an APR or Annual Percentage Rate, on such deposits into the account. What ever that number divide by 12 months in a year and you will see a monthly interest payment that the banks deposit. So if you had a $100USD and interest was 1.00%APR you would receive about eight cents every month. Interest is paid on deposits and withdrawals averaged in the banking cycle.
Do all deposits gain interest?
Not all deposits gain interest. Deposits to a savings account in a bank usually earn interest. Security deposits sometimes earn interest depending on where you reside. Deposits into investments will earn interest and the rate depends on the state of the economy and the financial markets.
You have opened a Business Time Deposit Account and you want to know the common limitations for this type of account?
Yes. After you have opened the account, you may not make additional deposits into, or withdrawals from, the account until the maturity date. Withdrawals prior to maturity are subject to an Early Withdrawal or Compensating Fee.
