Table of Contents
- 1 How much would you need to deposit in an account now in order to have $3000 in the account in 5 years assume the account earns 6\% interest compounded monthly?
- 2 How much would you need to deposit in an account each month in order to have $40000 in the account in 6 years assume the account earns 8\% interest?
- 3 What is $ 110 + 10\% compounded monthly?
- 4 How often can I change the deposit and compounding intervals?
How much would you need to deposit in an account now in order to have $3000 in the account in 5 years assume the account earns 6\% interest compounded monthly?
Answer and Explanation: Hence, the amount need to deposit in account now is $2,013.61.
How long in years will it take your money to triple at an annual percentage rate of 6\% compounded annually use logarithms to solve round and show 2 decimal places?
It will approximately take 18 years 10 months.
How much would you need to deposit in an account each month in order to have $40000 in the account in 6 years assume the account earns 8\% interest?
1 Expert Answer 5258413*40k = 21,136.54.
How long will it take inventory to triple itself if invested of 12\% per unit?
You can use the “Rule of 72” to get an approximate calculation. All you do is take 72 and divide it by the interest rate. So in this case 72/12 = 6. However, using an actual calculator for this you’ll see it would be exactly 6 years and 2 months.
What is $ 110 + 10\% compounded monthly?
After one year you will have $ 100 + 10\% = $ 110, and after two years you will have $ 110 + 10\% = $ 121. If you deposit $3500 into an account paying 10\% annual interest compounded monthly . Find the amount and interest after 8 years?
What is the amount at the beginning of compounding period?
The amount or balance at the beginning of the compounding period is called Principal. It is also known as Initial Deposit or Beginning Account Balance. Example: $1,000.00? The time the money is invested or borrowed for.
How often can I change the deposit and compounding intervals?
You can vary both the deposit intervals and the compounding intervals from daily to annually (and everything in between) …Show Full Instructions
How do I calculate the interest rate for the compounding interval?
In general, the interest rate for the compounding interval = annual rate / number of compounding periods in one year. This calculator accepts the folowing intervals:? It tells the calculator if the regular contribution is a deposit or a withdrawal.