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Earn +20 ptsQ: If 4000 dollars is invested in a bank account at an interest rate of 6 per cent per year what will be the amount after 10 year if interest is compounded annually?
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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
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