Math
posted by Mike .
you deposit $1000 at 3% per year.what is the balance at the end of one year,and what is the annual yield,if the interest.Please help solve the problem.
Simple interest?
Compounded annually?
Compounded quarterly
Compounded daily

John,George,Mike or Lucky,
This is the same type of question as your previous question:
http://www.jiskha.com/display.cgi?id=1302748623
Study the previous response carefully and you will get the answer for this one easily.
If you need further help, post. 
This one is qt different..i need more help..Thanks!

For simple interest, and compounded yearly, at the end of one year, the interest is the same, as there is only one period.
interest rate = 1.03
Balance = PRN = 1000*1.03*1 = $1030
Interest = balance  principal = 10301000=$30
Principal = P = $1000
Compound interest
Compounded annually:
balance = PR^{n} = 1000*1.03^1 = $1030
Interest = 10301000=$30
Compounded quarterly:
n = 12months/3months = 4
R = 1+0.03/4 = 1.0075
balance after 1 year
= PR^n
interest = PR^nP
Compounded daily:
n=365
R=1+0.03/365
balance after 1 year
= PR^n
interest = PR^nP 
Thank you very much for your help!

PR^nP
Respond to this Question
Similar Questions

Engineering Economics
Hi there, I am having some trouble solving this problem, can you give some guidance as to the solution. What is the amount of 10 equal annual deposits that can provide five annual withdrawals, when a first withdrawal of $1000 is made … 
Math
you deposit $1000 at 3% per year.what is the balance at the end of one year,and what is the annual yield,if the interest.Please help solve the problem. Simple interest? 
math
An amount of $3000 was deposited in a bank at a rate of 2% annual interest compounded quarterly for 3yrs. The rate then increased to 3% annual interest and ws compounded quarterly for the next 3 yrs. If no money was withdrawn what … 
Math
You deposit $10,000 at 5% per year. What is the balance at the end of one year if the interest paid is (a) simple interest (b) compounded monthly 
Help meee
Answer from spreadsheet Answer from hand calculation Problem #1: Find the total amount if you deposit $500 at a rate of 5% for two years using simple interest. Year 1 Year 2 Problem #2: Find the total amount if you deposit $300 at … 
Math
May Wattson has 50000 to invest in a 4year certificate of deposit that earns an interest rate of 3.75% compounded monthly or 3.50% compounded daily. Based on annual yield which is the better investment? 
MATH HELP
May Wattson has 50000 to invest in a 4year certificate of deposit that earns an interest rate of 3.75% compounded monthly or 3.50% compounded daily. Based on annual yield which is the better investment? 
engineering economics
A) A company has issued 10year bonds, with a face value of $1,000,000 in $1000 units. Interest at 8% is paid quarterly. If an investor desires to earn 12% nominal interest (compounded quarterly) on $10000 worth of these bonds, what … 
Math
Please Help!!!! I do not understand and if someone could help that would be great! Thanks !! Problem #1: Find the total amount if you deposit $500 at a rate of 5% for two years using simple interest. Year 1 Year 2 Problem #2: Find … 
algebra
Compound interest word problem. Suppose JJ has $1000 that he invests in an account that pays 3.5% interest compounded quarterly. How much money does JJ have at the end of 5 years?