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Ryan was 8 when his parents invested 4000 in a certificate of deposit that pays 6 percent If Ryan leaves the account alone until the investment doubles how old will he be Assume that the interest?
Wiki User
∙ 14y ago
20, assuming annual compound interest, 24 if simple interest.
Wiki User
∙ 14y ago
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Sharon invested 4000 in a certificate of deposit at 5 percent She also put 500 in a savings account at 3 percent How much interest will she earn after one year?
215
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
Pam invested 4200 in a savings account with a yearly interest rate of 4 for 7 years How much simple interest did she earn?
$1326.91
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
A principal of 950 is invested in an account at 7 percent per year simple interest What is the amount of the principal after 5 years?
1282.5
How much interest is earned on the account?
A $5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
Is the interest earn t in a bank account classed as an investment?
Interest earned in a bank account is not an investment. It is considered an income. The money that you have in the bank account that earned the interest for you is considered the investment
Jerry invested 14000 in a certificate of deposit at 5 percent he also put 2500 in a savings account at 3 percent how much interest will he earn after?
775
What is the difference between a savings account and a certificate of deposit?
In a regular savings account, the funds are always available for withdrawl. As a result, savings accounts generally have a low rate of interest. A certificate of deposit is an investment for a specific amount of time. The funds are not available until the certificate has matured, therefore, it has a slightly higher rate of interest than a savings account.
In 1960 the inflation rate was about 5.1. If you invested in a savings account with an annual interest rate of 4.9 what was the real growth rate of this investment?
A real "growth" of -0.0019%, approx.
What is a certificate of deposit?
When you put money in a savings account, you can draw it out at any time. In a certificate of deposit, you agree to leave it in the bank for a certain period of time. They pay slightly higher interest because they know that money will be there for 3 months, 6 months, 1 year, etc. If you draw it out early, they reduce your interest.
Jerry invested 14000 in a certificate of deposit at 5 percent He also put 2500 in a savings account at 3 percent How much interest will he earn after one year?
$775
Sharon invested 4000 in a certificate of deposit at 5 percent She also put 500 in a savings account at 3 percent How much interest will she earn after one year?
215
Jackie invested 12000 in a certificate of deposit at 6 percent She also put 3000 in a savings account at 3 percent How much interest will she earn after one year?
$810
When invested at an annual interest rate of 8 percent an account earned 336 of simple interest in one year How much money was originally invested in the account?
Let P be the amount of invested money. Then, .08P = 336 P = 336/.08 = 4,200
What is the difference between interest rate and APY when you are shopping for a certificate of deposit?
APR simply reflects the annual interest rate that is paid on an investment, but doesnÕt take into effect how interest is applied. APY takes into account how often the interest is applied to the balance, which can vary daily to annually.
What makes a saving account a better investment than checking account?
A savings account earns interest.
