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How much money should be deposited today in an account that earns 9.5 compounded monthly so that it will accumulate to 10000 in three yeatrs?
CalebBellgp8950
The amount required is 7641.49
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∙ 7y ago
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How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?
"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?
How do you determine the rate for one month for compounded interest?
On monthly compounding, the monthly rate is one twelfth of the annual rate. Example if it is 6% annual, compounded monthly, that is 0.5% per month.
What is 7 percent compounded monthly?
It means that at the end of every month, (7/12) of 1 percent of the lowest value of your account during the previous month is added to it.
What is the effective annual rate of 12 percent compounded monthly?
3
Future value of 2000 in 5 years at interest rate of 5 percent?
Compounded annually: 2552.56 Compounded monthly: 2566.72
How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?
"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?
How much money would have to be deposited now at 3 percent interest compounded monthly to accumulate to 600 in 4 years?
b * 1.03 4*12 = 600 b = 600 / 1.0348 b ≈ 600 / 7.977 b ≈ 145.20
If you deposit 10000 in a bank account that pays 10 percent interest annually how much would be deposited in your account after 5 years?
$16,105.10 if compounded yearly, $16,288.95 if compounded semi-annually, $16,386.16 if compounded quarterly, $16,453.09 if compounded monthly, and $16,486.08 if compounded daily.
What is the monthly return of 1000 invested in saving account with 5.8 monthly interest?
If you mean 5.8% annual interest rate compounded monthly, then (1000*.058)/12 = 4.83
What would be the ending balance of a 1290 savings account earning 12 percent interest compounded monthly after 1 year?
12 percent, compounded monthly is the equivalent of an annual rate of approx 390%. At that rate, 1290 would be worth 5025.81 (approx).
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
Which yields more 8 percent apr compounded monthly or 8.5 percent compounded semi-annual?
8% compounded monthly is equivalent to an annual rate of approx 152% . 8.5% compounded six monthly is equivalent to "only" 17.72% so the first is clearly larger.
How much will your 10 million dollar account earn at the end of two years if it is compounded monthly at 6 percent?
14,400,000 dollars
Does compounding quarterly earn you more than compounding monthly?
Monthly compounding earns more then quarterly. For example if your told your account earns 6% compounded monthly, then after 12 months you should earn 6.17% . If your account compounds quarterly, then after four quarters you should earn 6.14% .
What is the monthly interest rate of and annual 10 percent rate?
It is 0.833... recurring % if the interest is simple, or compounded annually. If compounded monthly, it is approx 0.797 %
What will 10000 be worth in 30 years at 5 percent?
compounded annually--$43,219 compounded quarterly--$44,402 compounded monthly-- $44,677 compounded daily--$44,812
How do you determine the rate for one month for compounded interest?
On monthly compounding, the monthly rate is one twelfth of the annual rate. Example if it is 6% annual, compounded monthly, that is 0.5% per month.
