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If 20000 is invested in a savings account offering 3.5 per year compounded continuously how fast is the balance growing after 7 years (Round your answer to the nearest cent.)?
With compound interest - the balance after 7 years would be 26336.18
You start a account with $2500 and a interest rate of 6.5 compounded yearly. How much is in the account after 7 years?
It is 3884.97 dollars.
How long does it take 1125 to triple if it is invested at 7 percent interest compounded quarterly?
(1 + .07/4)4x = 3 4x log(1+.07/4) = log(3) x = 0.25 log(3)/log(1.0175) = 15.83 The amount of the original investment doesn't matter. At 7% compounded quarterly, the value passes triple the original amount with the interest payment at the end of the 16th year.
How much should be deposited today in an account that earns 6 compounded semiannually so that it will accumulate to 10000 in 3 years using present value?
6% compounded annually is equivalent to an annual rate of 12.36%. To increase, at 12.36% annually for 3 years, to 10000, the initial deposit must be 7049.61
Jennifer invested 3300 in a savings account with a yearly interest rate of 6 for 9 years How much simple interest did she earn?
$2275.28
A principal of 700 is invested in an account at 6 per year compounded annually What is the total amount of money in the account after 5 years?
There is 936.76
A principal of 400 is invested in an account at 6 per year compounded annually. What is the total amount of money in the account after 5 years?
To calculate the total amount in the account after 5 years with a principal of $400 invested at an annual interest rate of 6% compounded annually, you can use the formula for compound interest: ( A = P(1 + r)^t ), where ( A ) is the amount, ( P ) is the principal, ( r ) is the annual interest rate (as a decimal), and ( t ) is the number of years. Plugging in the values: [ A = 400(1 + 0.06)^5 \approx 400(1.338225) \approx 535.29. ] Thus, the total amount in the account after 5 years is approximately $535.29.
What does compounded annually mean?
At the end of the year the interest is deposited in the account. The next year the interest is figured on the principal plus last year's interest.
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.
Do you get any interest on the sum saved in provident fund account?
Yes. Currently it is 8.6% per annum compounded annually
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
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
A principal of 850 is invested in an account at 8 percent per year simple interest What is the amount of the principal after 5 years?
The total value of the deposit will be $1248.929 at the end of 5 years. The year wise ending balance would be:918991.441070.7551156.4161248.929 This is under the assumption that the interest of 8% is compounded annually.
How much would 200 invested at 6 percent interest compounded annually be worth after 6 years?
Your yearly worth in the bank account that had 200 dollars invested @ 6% rate of interest for 6 years would be: a. end of year 1 - 212 b. year 2 - 224.72 c. year 3 - 238.20 d. year 4 - 252.495 e. year 5 - 267.645 f. year 6 - 283.70
You deposit 2000 in a savings account that pays 10 percent interest compounded annually How much will your account be worth in 15 years?
7954/- At the end of 5 years - 2928/- At the end of 10 years - 4715/-
How much money will an account have if 600 is invested in an interest rate of 6.5 percent compounded annually for the 3 years?
To calculate the future value of an investment compounded annually, you can use the formula: ( A = P(1 + r)^n ), where ( A ) is the amount of money accumulated after n years, ( P ) is the principal amount (initial investment), ( r ) is the annual interest rate, and ( n ) is the number of years. Here, ( P = 600 ), ( r = 0.065 ), and ( n = 3 ). Plugging in the values: ( A = 600(1 + 0.065)^3 ) Calculating this gives ( A \approx 600(1.207135) \approx 724.28 ). Therefore, the account will have approximately $724.28 after 3 years.
You have a savings account that provides 5% interest, compounded annually, on your total balance. You put $1000 in the account 10 years ago but forgot about it (you haven’t added more money and you haven’t withdrawn money)?
The final amount is $1,647.01
