answersLogoWhite

0

6% of 8000 per year = $480 per year

(10,000 - 8,000) = $2,000

$2,000 / $480 per year = [ 4 and 1/6th ] years

User Avatar

Wiki User

15y ago

What else can I help you with?

Related Questions

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.


If you invest 6000 dollars today ata nine percent interest rate what is the amount of interest after thirty years?

The total interest would be 73606.07 dollars, approx.


What is 7 percent interest over 4 years for 1 million dollars?

The amount of interest that will be paid over 4 years on 1 million dollars is $145,419.75. This figure is configured with an interest rate of 7 percent. The amount can change based on amortization of the loan.


What amount will an account have after 9 years if 125 DOLLARS is invested at 8 percent interest compunded continuously?

249.88 dollars


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


A deposited an amount in a bank which gives 10 percent simple interest At the end of the fifth year he received a total of Rs 30000 The amount deposited by him was?

Let A = amount balance after 5 years = Rs 30,000 r = 10% = 0.1 t = 5 years P = amount deposited A = Pert 30,000 = Pe(0.1)(5) 30,000 = Pe0.5 30,000/e0.5 = P 18,195.92 = P The amount deposited was Rs 18,195.92.


How are interest and principal related?

Principle: is the beginning amount of money that is deposited or owed. For instance, you deposit $100 or you take on a loan that is worth $100. The $100 is your principle amount. Interest: Is the cost of borrowing. The higher principle, the higher interest payment you will have to pay because the interest due is a percent of the Principle.


How much interest should the account earn per year if you opened a bank account and deposited 225 and it earns 6 percent annually?

If you deposited $225 in a bank account that earns 6 percent annually, the interest earned in one year would be calculated by multiplying the principal amount by the interest rate. This can be calculated as follows: $225 x 0.06 = $13.50. Therefore, the account should earn $13.50 in interest per year.


What is the interest earned on 3180 if it is invested at 6.5 percent for 3½ years rounded to the nearest dollar?

If compounded and assuming the amount was 3180 dollars, it would be 784 dollars.


Franklin just deposited 364 dollars into his checking account If Franklin now has a total of 500 dollars in his account how much did he have originally?

Newly deposited amount: 364 dollars Current Bank balance: 500 dollars Previous balance:? Previous balance = current balance - newly deposited amount = 500 - 364 = 136 Franklin had 136 dollars in his account before he made the 364 dollar deposit


What is the total amount to be repaid on a one-year term loan of 500 dollars with an interest rate of 12?

The total amount to be repaid on a one-year term loan of 500 dollars with an interest rate of 12 percent depends on how often it is compounded. If it is only compounded once during the year, you will owe 560 dollars after one year.


Is the original amount deposited or borrowed?

The original amount deposited is referred to as the principal in a savings context, while in a borrowing scenario, it is the amount borrowed from a lender. In both cases, the principal is the base amount on which interest is calculated. Therefore, whether it is deposited or borrowed depends on the financial context in which the term is used.