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When Janette was 5 years old her grandmother deposited 2500 into a savings account for her. The account pays a simple annual interest rate of 4. What will the balance be when Janette turns 15 years ol?
Wiki User
∙ 6y ago
It will be 3500.
Wiki User
∙ 6y ago
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Mark deposited 1256 dollars from his summer job in a savings account that pays 4.5 percent interest How much interest will he earn after one year?
100
Mark deposited 200 in a savings account after one year his account with interest had a balance of 211 about how much interest did he earn each week?
He earned just over 0.21 per week, so it would be rounded to 0.21 per week.
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
If you deposited 900 in a saving account that earns 4 interest every year how much money is in that account after 2 years?
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
Taylor wrote a check for 18 on the same day his bank paid interest to his account If his account balance changed 13 that day how much interest did he earn?
Taylor wrote a check for $18 on the same day his bank paid interest to his account. If his account balance changed $13 that day, how much interest did he earn.
What is the term for a type of account that earns interest as money is deposited?
money
What is an example of interest-bearing account?
An Interest bearing account is a bank account in which, the banks pays you an interest for keeping your money deposited in that account. Ex: Savings Bank Account - You usually get around 3.5% rate of interest on the money you hold in your savings account in India.
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.
Sara's grandmother gave her 3000.00 to save for college She put it in a savings account that earns 6 percent per year The money was in the account for 8 years How much simple interest did she earn?
Amount Deposited: $3000 Rate of Interest: 6% No. of Years: 8 Formula for Simple Interest = 3000 * 6 * 8 / 100 The simple interest she will earn in 8 years is $1440
How does one collect their accrued interest?
Accrued interest is obtained when the payment is received to the borrower. When the payment is received, interest is then realized and deposited into your account.
What does compounded annually mean?
At the end of the year the interest is deposited in the account. The next year the interest is figured on the principal plus last year's interest.
If i deposited 235.00 in 1974 in a savings account what would be my balance?
The amount in your balance would depend on the interest rate of your savings account.
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.
If you deposit 10000 in a bank account that pays 10 percent interest anually how much would be deposited in your account after 5 years?
5000
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
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
How much money will be in a bank account after 3 years if 4 is deposited at an interest rate of 5 percent?
$4.63
