How do you calculate compound interest quarterly?
Simply put, you calculate the interest rate divided by the number of times in a year the compound interest is generated. For instance, if your bank compounds interest quarterly, there are 4 quarters in a year, so n = 4. This result must be multiplied to the power of the deposit period.
How much money would you need to deposit today at 9% annual interest compounded monthly to have 12000 in the account after 6 years?
Example 3: How much money would you need to deposit today at 9% annual interest compounded monthly to have $12000 in the account after 6 years? ⎝ ⎠ Plug in the given information. P = 7007.08 Round your final answer to two decimals places. You would need to deposit $7007.08 to have $12000 in 6 years.
How long will it take for $5000 to accumulate to $8000?
approximately 7.9 years
How much would $200 invested at 6% interest compounded monthly be worth after 5 years?
Question 476745: How much would $200 invested at 6% interest compounded annually be worth after 5 years ? P=$267.645 ANS.
How much would $500 invested at 5% interest?
Hence, the amount will become $741.91 in 8 years.
How much would $200 invested at 7% interest compounded annually be worth after 5 years?
SOLUTION: How much would $200 invested 7% interest compounded annually be worth after 5 years? roundyour answer to the neartest cent.
How much would $200 invested at 6% interest compounded continuously be worth after 6 years?
Hence, it is worth $283.70, when $200 is invested at 6% interest compounded annually, after 6 years.
How much would $500 invested at 3% interest compounded continuously be worth after 6 years?
So $500 invested 6 years ago at 3% would be worth $598.61 today.
How much would $500 invested at 4 interest compounded continuously be worth after 7 years?
Question 286502: How much would $500 invested at 7% interest compounded annually be worth after 4 years? Round your answer to the nearest cent. Do not include units in your answer. 500*1.3108=$655.40 ANS.
How much would $500 invested at 6 interest compounded monthly be worth after 4 years?
∴ The amount when $500 invested at 6% interest compounded monthly be worth after years will be equal to 500(201200)12t.
How much would $400 invested at 9 interest compounded continuously be worth after 3 years?
If $400 have been invested at 9% interest compounded continuously for 3 years then we have to calculate the final amount. Therefore $523.46 will be the amount after 3 years.
How much would $300 invested at 9 interest compounded continuously be worth after 3 years?
A = $300*e^(0.09*3) = $392.99. Sounds like a great deal!
How much would $500 invested at 6 interest compounded annually be worth after 5 years?
Answer: It would be $ 635.62.
How much would $600 invest at 8% interest?
$600 at 8% Interest for 5 Years
| Rate | Amount |
|---|---|
| 6% | $802.94 |
| 8% | $881.60 |
| 10% | $966.31 |
| 12% | $1,057 |