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John inherited 5000 from his grandfather. He put it in a savings account to buy a car when he turns 16. John is 13 right now. If his savings account earns 7 over the next 3 years how much will be in t?
Wiki User
∙ 7y ago
Compounded annually, that's 6125.22
Wiki User
∙ 7y ago
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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
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
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
Harry has 4000 invested in two savings accounts One account earns 6 percent interest per year and the other pays 7 percent per year If his total interest for the year is 264 how much is invested at?
2,400
John inherited 5000 from his grandfather He put it in a savings account to buy a car when he turns 16 John is 13 right now If his savings account earns 7 percent over the next 3 years how much?
1050
What is a compound interest savings account?
Its where your savings account earns interest on the interest.
What's one difference between a checking account and a savings account?
savings account earns interest.
What makes a savings than a checking account account a better investment?
A savings account earns interest.
What does a CD savings account do for me?
A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.
What makes a savings account a better investment than a checkings account?
A savings account earns interest.
What makes a saving account a better investment than checking account?
A savings account earns interest.
What is the average interest rate for a Suncorp savings account?
Suncorp is a bank operating in Queensland, Australia. They have a number of savings account options, but their main savings account is the eOptions account, which currently earns 3.00% per annum.
What is current account in bank?
A current account is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account. Savings accounts are much more common in India than current accounts.
When the interest paid on a savings account is added to the balance so the interest earns interest this is known as?
Compound interest
Whats the difference between an orange account and a regular savings account?
An orange account earns high interest, there are no fees attached and you do not need a minimum balance in your account. Most regular savings accounts have a minimum balance and really low interest rates.
What is one disadvantage of having money in certificate of deposit versus a savings account?
It earns a far higher rate of interest than your savings account. the rate of interest on CD's range from 6% to 10% depending on the duration but the interest on savings accounts is only 3 - 4 %
