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In how many years your amount will be double if rate of interest is 10 percent annually in compound interest?
Wiki User
∙ 14y ago
Approximately 7 years. The general rule is to divide 70 by the interest rate to get an approximation of how long it will take to double.
If the interest is compounded annual you will have $194.88 after 7 years, and $214.37 after 8 years. Though if interest is compounded more regularly (ie. monthly or daily) this will grow at a slightly faster rate.
Wiki User
∙ 14y ago
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What is 5000 compounded annually at 4 percent for 5 years?
Invest at an amount of 200000 at a bank that offers an interest rate of 7,6%p.a Compounded annually for a period of 3 years
1000 for 2 years at 7.25 percent compounded annually?
Assuming that is 7.25% APR, then, as it's compound interest: amount = 1000 x (1 + 7.25%)^2 = 1000 x (1 + 7.25/100)^2 = 1000 x 1.0725^2 ≈ 1150.26
If you only have 1500 to invest and the highest interest rate you can find is 3 percent compounded annually and you decide to wait 4 years to go on the trip how much money will you have to spend?
Also, I have to use the formula: Use the compound interest formula A = P (1 + i)n, where A is the accumulated amount, P is the principal, i is the interest rate per year, and n is the number of years.
On what sum of money will compound interest for 2 years at 5 percent per year amount to Rs 164?
Rs 1600.
What is the effect of compound interest?
The effect of compound interest is that interest is earned on the accrued interest, as well as the principal amount.
What is the compound amount of 8 percent for 23 years?
Interest alone would be 4.871463646 times the amount of the principle.
What is the compound amount if you borrow 5000 at 12 percent APR compunded annually for 8 years?
Your going to fail the test.
After 6 years what is the total amount of a compound interest investment of 35000 at 4 percent interest compounded quarterly?
$44,440.71
What is the correct formula for compound interest?
Suppose the amount invested (or borrowed) is K, Suppose the rate of interest is R% annually, Suppose the amount accrues interest for Y years. Then the interest I is 100*K[(1 + R/100)^Y - 1]
In how many years will Rs.1000 amount to Rs.1728 at 20 percent compound interest.?
3
What is 5000 compounded annually at 4 percent for 5 years?
Invest at an amount of 200000 at a bank that offers an interest rate of 7,6%p.a Compounded annually for a period of 3 years
Calculate the sum to which 6000 will amount in 5years at 12 percent per annum compound interest?
5,132.33^10
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
Tanya deposited 325.00 in a bank that pays 7 annual interest how much interest will she earn after a year?
About 23 cents if and only if the minimum balance remains at that amount for 1 year and the bank pays compound interest annually.
If your travel costs 2000 and you have 1500 and you invest this money at 3 percent interest rate compounded annually how long will it take to earn enough money for the trip?
Also, I have to use the formula: Use the compound interest formula A = P (1 + i)n, where A is the accumulated amount, P is the principal, i is the interest rate per year, and n is the number of years.
How much would 100 dollars saved at 5 percent interest compounded annually amount to after four years?
100 x (1.05)4 = $121.55
1000 for 2 years at 7.25 percent compounded annually?
Assuming that is 7.25% APR, then, as it's compound interest: amount = 1000 x (1 + 7.25%)^2 = 1000 x (1 + 7.25/100)^2 = 1000 x 1.0725^2 ≈ 1150.26
