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Earn +20 ptsQ: Can a million dollars double in a year on interest?
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What is the least amount of interest that could be earned per year on one million dollars?
The least amount would be $0 at a 0.0% rate of interest - which does exist.
What is the cost per one thousand dollars at 4.25 percent on a 30 year fixed mortgage?
The answer will depend on how frequently the interest is calculated. Assuming the interest is calculated annually, the cost is 59.59 dollars per year. Over the 30 year period, that is equal to 1787.70 dollars per 1000 dollars.
1000 dollars in a savings account pays 7 percent interest per year The interest earned after the first year is added to the account How much interest is earned on the new principal the following year?
$74.90
What year did Arnold Palmer win 1 million dollars?
1234 b.c.
How much will 2000 dollars grow if it is compounded daily for 7 years at 6 percent compounding interest?
If the rate is 6 percent per year, then compounding daily will make no difference. If the rate is 6% per day, then 2000 dollars will be worth approx 1.0042*10^68 dollars. That is approx one hundred million trillion trillion trillion trillion trillion dollars.
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