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Q: You deposit 10 dollars per month in a bank that offers an annual interest rate of 6 percent at the end of three years your balance is what?

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60,000

The answer is 1200.00 dollars in interest on that loan of 20000.00 for 50 days at 6 percent interest.

11000*3/100 = 330 dollars.

It depends whether the interest is compound or not. However, if the interest is credited at the end of the first year, you would have 166250 interest at 9.5%

Credit card companies use several methods to calculate interest. There can be one or two billing cycles per month. Interest can be charged on the daily balance, new purchases, etc. You should refer to the "How finance charges are calculated" section of you billing statement.

Related questions

6 dollars.

You will have 1903.737 dollars in your account at the end of 13 years. The year wise end balance will be:756816.48881.798952.3421028.531110.8121199.6771295.6511399.3031511.2471632.1471762.7191903.737This is under the assumption that you don't deposit any fresh funds into your account and initial 700 dollars + the accumulated interest is all that is available in the account.

50,940 dollars

$11,573.02 if you deposit at the beginning of the quarter or $11,444.27 if you deposit at the end of the quarter

500 x 0.05 = 25 . so the interest you earn is 25 dollars each year if you deposit 500 dollars.

(1.035)16 = 1.73398604 $500 ===> $866.99 (rounded)

If compounded, interest = 81.244 and balance = 456.245 If not compounded, interest = 75 and balance = 450

$5.77

He pays $696.50 interest.

It is 223.86

First find out what the interest rate is from the money lender or deposit taker.

No if the account earns interest daily, it's earning interest on interest essentially. So if you have $100 and you earn 1% interest, you would have $101 dollars the next day and earn 1.01 dollars in interest, and so on.

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