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If you deposited 900 in a saving account that earns 4 interest every year how much money is in that account after 2 years?
Wiki User
∙ 15y ago
At the end of the first year you would have: $900 + (900 * .04) = $936 At the end of the second year you would have: $936 + (936 * .04) = $973.44
Wiki User
∙ 15y ago
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Karen deposited 8500 dollars in a college savings account for her grandson The account earns an annual simple interest rate of 6.5 percent How much money will she have at the end of ten years?
8500 x ((1.065) to the 10th power) = 15955.67
Elena has 500 to invest . she can put it in an account that earns 4 compounded semiannually or in an account that earns 5 simple interest after 2 years how much will be in each account including the?
the last word is principal
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?
The amount required is 7641.49
Calculate the simple interest you would receive in five years on a savings account that earns 7.5 percent annual interest What if your beginning balance is 1236.59?
463.72
You deposit 900 in a savings account that earns 4 percent interest compounded once a year and has no service charges you do not make any deposits or withdrawals to the account for two years at the end?
$973.44
What is the term for a type of account that earns interest as money is deposited?
money
What makes a saving account a better investment than checking account?
A savings account earns interest.
How much interest should the account earn per year if you opened a bank account and deposited 500.00 and it earns 6 percent annually?
30.00
What if Jennifer deposited 10000 in an account that earns compound interest. The annual interest rate is 8 and the interest is compounded 2 times a year. The current balance in the account is 10?
No. If the account is earning interest the current amount should be greater than the initial deposit.
How much interest does a 100 billion dollars earn a day?
Assuming this 100 billion dollars is deposited in a savings account that earns an interest of 1% per year, the interest earned in a day would be $ 2739726. Assuming this 100 billion dollars is deposited in a Certificate of Deposit that earns around 2.5% interest per year, the interest earned in a day would be $6849315
What is a compound interest savings account?
Its where your savings account earns interest on the interest.
Ernestine deposited $6800 into a savings account that earns 3.5% simple interest each year calculated annually. What is the future value of Ernestine's account after 16 years?
$10608
Calculate the simple interest you would receive in five years on a saving account that earns 7.5 annual interest Your beginning balance is 1236.59?
The simple interest over a period of five years is $463.70
What is a type of checking account that also earns interest these accounts generally have a minimum balance?
A type of checking account that also earns interest is called an interest-bearing checking account. These accounts typically require a minimum balance to be maintained in order to earn interest.
When the interest paid on a savings account is added to the balance so the interest earns interest this is known as?
Compound interest
Karen deposited 8500 dollars in a college savings account for her grandson The account earns an annual simple interest rate of 6.5 percent How much money will she have at the end of ten years?
8500 x ((1.065) to the 10th power) = 15955.67
What's one difference between a checking account and a savings account?
savings account earns interest.
