Compounded Interest

8,757 results, page 4

Finance

Danny Joe borrows $10,500 from the bank at 11 percent annually compounded interest to be repaid in six equal annual installments. The interest paid in the first year is: $_________. (Please calculate the arithmetic solution and show your work)

Math

Meghan deposited $2,500in an account at a bank that pays 16% compounded quarterly. Use the compound interest table to find the interest earned on the investment after 2 years. a. $921.43 b. $204 c. $2,704 d. $3,421.43 **This is a sample question** (Please Help!)

Calculus

Money is deposited in an account for which the interest is compounded continuously. The initial investment in the account is $2000 and the annual interest rate is 14%. What is the time required for the balance to double? Round your answer to three decimal places.

Algebra

P dollars is invested at annual interest rate r for 1year If the interest is compounded semiannually then the polynomial P(1+r/2)^2 represents the value of the investment after 1 year. rewrite the expressions without parentheses evaluate the polynomial if P=5670 and r=3.5%

Polynomials

P dollars is invested at annual interest rate r for 1year If the interest is compounded semiannually then the polynomial P(1+r/2)^2 represents the value of the investment after 1 year. rewrite the expressions without parentheses evaluate the polynomial if P=5670 and r=3.5%

Math

Young and Company owes bond holders $5,500 interest at the end of each quarter for the next five years. How much they deposit now at 8% interest compounded quarterly to yield an annuity payment of $5,500?

PLEASE HELP Math

As a fringe benefit for the past 8 years, Colin's employer has contributed $50 at the end of each month into an employee retirement account for Colin that pays interest at the rate of 8%/year compounded monthly. Colin has also contributed $2,000 at the end of each of the last ...

Algebra

Need help with these 2 please-- 19. Nancy invests $100 in one account for 10 years at a 9% interest rate compounded annually, and she invests $150 in an account for 10 years at a 6% interest rate compounded semi-annually. How much money will she have in the accounts after 10 ...

Algebra

Need help with these 2 please-- 19. Nancy invests $100 in one account for 10 years at a 9% interest rate compounded annually, and she invests $150 in an account for 10 years at a 6% interest rate compounded semi-annually. How much money will she have in the accounts after 10 ...

Math Personal Finance

Assume we invest $2000 for one year in a savings account that pays an APR (Annual Percentage Rate) of 10% compounded quarterly. Calculate the interest and compound it by hand each quarter rather than using the compound interest formula. The total interest the account has ...

math

Young and Company owes bond holders $5,500 interest at the end of each quarter for the next five years. How much must they deposit now at 8% interest compounded quarterly to yield an annuity payment of $5,500?

Finite Math and Applied Calculus

Betty Sue sets up a retirement account. For the first 35 years, she deposits $500 at the end of each month into an account with an annual interest rate of 3.6%, compounded monthly. Then, she stops making monthly payments and transfers the money into a di fferent account with ...

econ

You borrow $20,000 from a bank to be repaid in monthly installments for 3 years at 9% interest compounded monthly. What is the portion of interest payment for the 18th payment?

Math

Find the future value of $800 deposited at 5% for 2 years if the account pays simple interest, and the account pays interest compounded annually

Math

If interest is compounded monthly at 8% per year for 10 years, explain how to find the number of compounding periods and the interest rate per compounding period.

ALGEBRA

Find the amount of compound interest earned in an account that opens with $27,000, earns 4.6% interest compounded daily, and is held for 25 years. Assume 360 days in a year. (Round your answer to the nearest cent.) I came up with $85,264.94 is this correct if not I need help!!!

Math Check

A bank offers two interest account plans. Plan A gives you 6% interest compounded annually. Plan B gives you 13% annual simple interest. You plan to invest 2,000 for the next 4 years. Which account earns you the most interest (in dollars) after 4 years? How much will you have ...

maths

You deposit $10,000 in an account earning 4% interest compounded monthly. a. How much will you have in the account in 25 years? b. How much interest will you earn?

math

How did they get to this answer can someone explain the steps. Directions: Find the future value of each ordinary annuity, if payments are made and interest is compounded as given. R = 15,000; 12.1% interest compounded quarterly for 6 yrs. answer: $518,017.56 I assume R is the...

math

Compute the compound quarterly amount after 1 year for $100 invested at 12% interest compounded quarterly. What simple interest rate will yield the same amount in 2 years?

Finance

You can save $ 1,500 each year in saving account that pays 4% interes quarterly. How much will you have in 5 year? What if interest was compounded semi annual? What is interest was compund annual?

Finance

You can save $ 1,500 each year in saving account that pays 4% interes quarterly. How much will you have in 5 year? What if interest was compounded semi annual? What is interest was compund annual?

Compund Interest

Bobby needs to save $10,000 for school in the next two years. He found a bank that offers a 10% interest rate compounded annually. What does he need to deposit at the beginning of the year to have enough money for school?

Math (finance )

Find the monthly payment, needed to have a sinking fund accumulate the future value, $16,000. The yearly interest rate is 6.7% and the number of payments is 20. Interest is compounded monthly. I do not remember how to solve for this equation. Please help me.

Foundations Math 12

48 weeks ago, Gabriella invested at 3.9% interest, compounded weekly. Today, her investment is worth $225.50. How much interest has Gabriella's account earned in the past 48 weeks?

math

If 3000 dollars is invested in a bank account at an interest rate of 9 per cent per year, find the amount in the bank after 5 years if interest is compounded annually

math

Sally invests some money at 6%/a compounded annually. After 5 years, she takes the principal and interest and reinvests it all at a 7.2%/a compounded quarterly for 6 more years. At the end of this time, her investment is worth 14,784.56.how much did sally originally invest? I ...

programming

Having troube with java, i am not a regular programmer, if anybody can help me out writting this program: write a program that takes two numbers from the java console representing, respectively, an investment and an interest rate(you will expect the user to enter a number such...

csci 120

Write a function that computes the balance of a bank account with a given initial balance and interest rate, after a given number of years. Assume interest is compounded yearly

math

You deposit $10,000 in an account earning 3% interest, compounded semi-monthly (twice a month). You plan to leave the account untouched for 25 years. How much interest will you earn over the 25 years?

Math with business apps

Young and Company owes bond holders $5,500 interest at the end of each quarter for the next five years. How much must they deposit now at 8% interest compounded quarterly to yield an annuity payments of $5,500?

math & finance

A bank offers a rate of 5.3% compounded semi-annually on its four year GICs(Guaranteed Investment Certificates). What monthly and annually compounded rates should it quote in order to have the same effective interest rate at all three nominal rates?

Foundations Math 12

Forty eight weeks ago, Gabriella invested money at 3.9% interest, compounded weekly. Today, her investment is worth $225.50. How much interest has Gabriella's account earned in the past 48 weeks?

compound interest

At the beginning of every year, Molly deposits $200 in a savings account that offers an interest rate of 20%, compounded annually. The total amount that Molly will have in her account at the end of 3 years is

math

Shannon invests $3,000, at 8% interest, compounded quarterly for one year. Use Table 11-1 to calculate the effective interest rate for her investment. (Round the effective rate to the nearest hundredth percent.)

BEHRIA

A SUM OF $8000 IS INVESTED IN A SAVING ACCOUNT WHICH PAY THE INTEREST AT COMPOUNDED ANNUALLY .IF THE AMOUNT OF IN KEPT ON DEPOSIT FOR 6 YEAR WHAT WILL THE COMPOUND AMOUNT EQUAL? HOW MUCH INTEREST WILL BE EARNED DURING THE 6 YEAR

Calculus with Analytical Geometry 1

You take out a 15 year mortgage for $20,000 at the rate of interest 4% compounded monthly. If, after 5 years, interest rate drop and you wish to refinance. How much remains to be on your mortgage?

Precalc

suppose you want to invest $60,000 for ten years. You can invest your money in a CD that earns 4% interest, compounded quarterly and has no risk, or you can invest your money in futures that ear 10% interest, compounded quarterly. However, the second investment has a 25% ...

Statistics

Mary has a savings account and is earning 10% annual interest compounded semi-annually. If she deposits $2,000 in the account every six months for three years, what will the future value of her account be? How much interest will she have earned?

calculus

the monthly payment that amortizes a loan of A dollars in t yr when the interest rate is r per year, compounded monthly, is given by P=f(A,r,t) = Ar/ 12[1-(1+ r/12)^-12t ] Find the monthly payment for a home mortgage of 300,000 that will be amortized over 30 yr with an ...

Math Check My Work Please 2

15. Lisa takes a loan of $10,500 at a 9% simple interest rate for 7 years. a. How much interest will she pay after 3 years? b. How much interest will she pay in total for the loan? $2,835.00; $6,615.00 $8,280.00; $9,720.00* $13,598.00; $19,194.00 $28,350.00;...

math

Please help I know to figure out simple interest but what is the best way to figure out compound interest example 8,000 invested for one year at 6 % compounded quarterly (with the answer rounded to the nearest dollar

Business Algebra

Part I: As a financial planner a client comes to you for investment advice. After meeting with him and understanding his needs, you offer him the following two investment options: Option 1 (refer to section on Mathematics of Finance in your text.): Invest $23,000 in a savings ...

math

Assume you have $1,000 and find a place to invest it that will give you 5% compounded annually. a. How long will it take your investment to be worth $1,500? b. Is it worth your while to run around and find another place which will give you 5% interest compounded daily? Explain...

Corporate Finance

A 15-year annuity pays $1,750 per month, and payments are made at the end of each month. If the interest rate is 10 percent compounded monthly for the first seven years, and 6 percent compounded monthly thereafter, what is the present value of the annuity?

Math! plz help!

Calculate the future value of quarterly payments of $1200 for 5 years, if the rate of interest was 10% compounded quarterly for the first 2 years and will be 9% compounded quarterly for the last 3 years. I solved for both which i got aFV= $10483.34 bFV= $16322.67 to get this ...

math compound interest

I can figure all of the other compound interest problems except these-In how many years would Ben's $100,000 take to be worth $250.000 if compounded annually at the rate of 6.5%?-Thanks and good night :)

Math/Algebra

Jeremy opened two saving accounts at the beginning of 2010, each with an initial deposit of $4,000. Account A earned simple interest, and account B earned interest that was compounded annually. By the end of 2012, which account earned more interest, and how much more interest ...

math

Zeb is going to deposit $3370 into an account that earns 14% APR compounded annually for 37 weeks. What is the "n" in the compound interest formula? n= What is the "t" in the compound interest formula? Enter as a fraction. years What is the "nt" in the compound interest ...

Business Mathematics

Jungle Jim owes three debts: $500 due in one year plus interest at 6% semi-annually, $2000 due in two years, $1000 due in three years plus interest at 5% compounded monthly. He wishes to discharge these debts by paying $500 now and two equal but unknown payments in one and two...

MATH

Ben Garrison invested $15,000 at 5% compounded daily in a credit union account that matures in 1 year. He also invested 20000 at 5.25% compounded monthly in a Silver Screen account that matures in 4 years. (a) What is the interest earned at maturity for both accounts? (b) What...

MATH HELP

Ben Garrison invested $15,000 at 5% compounded daily in a credit union account that matures in 1 year. He also invested 20000 at 5.25% compounded monthly in a Silver Screen account that matures in 4 years. (a) What is the interest earned at maturity for both accounts? (b) What...

math

Yumi's grandparents presented her with a gift of $11,000 when she was 8 years old to be used for her college education. Over the next 9 years, until she turned 17, Yumi's parents had invested her money in a tax-free account that had yielded interest at the rate of 5.5%/year ...

Finance - Loans problem please help

A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company sets up a sinking fund in order to repay...

Interest

Jim opens a savings account with a deposit of $10,000. If the account has an annual interest rate of 6%, compounded quarterly, how much is in the account after one year? (Assume that he does not make any withdrawals. Round only your final answer to the nearest cent.)

Finance

You just acquired a mortgage in the amount of $249,000 at 6.75% interest, compounded monthly. Equal payments are to be made at the end of each month for 30 years. How much of the first loan payment is interest? (Assume each month is equal to 1/12 of a year)

Math

You deposit $10,000 in an account earning 5% interest, compounded semi-monthly (twice a month). You plan to leave the account untouched for 25 years. How much interest will you earn over the 25 years? Round your answer to the nearest cent.

Mathematics

A loan of $7,000,000 is being amortised over 48 months at an interest rate of 12% compounded monthly. Find: (a) the monthly payment; (b) the principal outstanding at the beginning of the 36th month; (c) the interest in the 36th payment; (d) the principal in the 36th payment ...

Mathematics

A loan of $7,000,000 is being amortised over 48 months at an interest rate of 12% compounded monthly. Find: (a) the monthly payment; (b) the principal outstanding at the beginning of the 36th month; (c) the interest in the 36th payment; (d) the principal in the 36th payment ...

math115

Steve was charged $75.00 interest for 1 month on a $3,000 credit card balance. What was the monthly interest rate? Give you answer as a percentage, round to the nearest tenth of a percent. 2.5% 2.If $5,600 is deposited into an account paying 5.325% interest compounded annually...

Math

Lee Holmes deposited $15,000 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $40,000 at 9% intrest compounded semiannually. At the end of 6 years, what is the balance in Lee's account?

math

6% compounded interest quarterly for 5 years

math

find the effectivee rate correspoding to 3% compounded quarterly The formula for effective rate I found is (1+ i/n)^n - 1 where i is the annual rate as a decimal and n is the number of periods. Here i=.03 so the effective rate is and n is 4 since there are 4 compounding ...

another problem for checking - algebra

P dollars is invested at annual interest rate r for 1 year. If the interest is compounded semiannually, then the polynomial P(q + r/2)^2 represents the value of the investment after 1 year. Rewrite w/o parenthesis and eval if P= $200 and r = 10% P(1 + r/2)^2 200(1 + r/0.10/2)^...

Business Algebra

I need to know the formula for these questions and just how to do them. If you could help please. As a financial planner a client comes to you for investment advice. After meeting with him and understanding his needs, you offer him the following two investment options: Option ...

MATH HOMEWORK HELP PLEASE ANSWER

Lee Holmes deposited $15,000 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $40,000 at 9% intrest compounded semiannually. At the end of 6 years, what is the balance in Lee's account?

Simple & Compounding Interest

Suppose Kevin and Jill both deposit $4000 into their personal accounts. If Kevin’s account earns 5% simple interest annually and Jill’s earns 5% interest compounded annually, how much will each account balance show at the end of 5 years? Calculate the difference between ...

Business Math

Solve the following by using the present value formula. Compound Amount- $700 Time Period(years)-8 years Nominal Rate (%)- 1.5 Interest Compounded monthly Compound Amount___________? Compound Interest _________?

Finance

Kim has money in a savings account that earns an annual interest rate of 4.1%, compounded monthly. What is the effective rate of interest on Kim's account? Round to the nearest hundredth of a percent.

Finance

. (TCO 3) Mark deposited $1,000 today, in an account that pays eight percent interest, compounded semi-annually. Which one of the following statements is correct concerning this investment? (Points : 3) Mark will earn more interest in year 4 than he will in year 3. Mark will ...

high school

Explain in your own words the difference between an account that is earning simple interest for 5 years and another account that is earning interest that is compounded annually for 5 years

math models

If $3800 is invested in a savings account for which interest is compounded quarterly, and if the $3800 turns into $4300 in 2 years, what is the interest rate of the savings account?

algebra

when P dollars is invested at interest rate (I), compounded annually, for (t) years, the investment grows to (A) dollars, where A=P(1+I)^3. Find the interest rate if $40,960 grows to $49,130 in 3 yrs.

Maths

What will become Rs 4630.50 in 1 and haif years ,if the rate of interest is 10% per annum compounded half yearly? At what rate per cent does compound interest on a sum of money becomes fourfold in 2 years?

math

f $3800 is invested in a savings account for which interest is compounded quarterly, and if the $3800 turns into $4300 in 2 years, what is the interest rate of the savings account?

math

$2700 at 9% interest compounded quarterlyfor 4 years

maths

How much would £3100 be 8 yr compounded at 5.09% interest

annuaties

Sally contributed $500 every six months for fourteen years into an RRSP earning interest at 7.5% compounded semi-annually. Seven years after the last contribution Sally converted the RRSP into an RRIF which is to pay her equal quarterly payments for sixteen years. If the first...

math

Brenda has taken out a $1300 loan to pay for a hot tub. She will make monthly payments for a year at an interest rate of 10 %, compounded monthly. How much interest will she end up paying? Select one: a. $213.45 b. $71.49 c. $112.56 d. $110.89 What i don't understand is what ...

Finance

A comp. has issued a bond with the following characteristics: Principal=1000, Time to maturity=20yrs. Coupon Rate=8%, compounded semiannually with semiannual payments. Calculate the value of this bond if the stated interest rate, compounded semiannually is 6% My attempt: 1000...

Simple & Compounding Interest

I am SO STUCK on this problem... PLEASE HELP ASAP!!! Suppose Kevin and Jill both deposit $4000 into their personal accounts. If Kevin’s account earns 5% simple interest annually and Jill’s earns 5% interest compounded annually, how much will each account balance show at ...

MATH PLEASE HELP

a) How much will the monthly payment on a five yr car loan that changes 8.1% interest (compounded monthly) if the amount borrowed is $12,000? b) How much total interest will be paid over the life of the loan for A i think it's 300?

Please Help me with a Finance - Loan problem

A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company sets up a sinking fund in order to repay...

math

Jeanette wishes to retire in 30 years at age 55 with retirement savings that have the purchasing power of $300,000 in today’s dollars. 1. If the rate of inflation for the next 30 years is 2% per year, how much must she accumulate in her RRSP? 2. If she contributes $3000 at ...

calculus

Choice 1: Payments of $ 2600 now, $3000 a year from now, and $3450 two years from now. Choice 2: Three yearly payments of $ 3000 starting now. Interest is compounded continuously. (a) If the interest rate on savings were 4.76 %,which would you prefer? (b) What is the interest ...

Math

The Problem: You win the grand prize on a game show. You have the following choices: Option 1: $1-million dollars paid as a $25 000 annuity every year over 40 years. Option 2: The present value of option 1 if the current interest rate is 4%, compounded annually. You ...

Algebra

Use the compound interest formula $18,000 is invested in an account paying 3% interest compounded quarterly. Find the amount of money in the account at the end of 10 years. (Show values substituted in the formula, and calculate the numerical amount.)

Math

Using the compound interest formula A = P (1+ ((r)/ (n)) ^nt Find the amount of money in the account at the end of 10 years. (Show values substituted in the formula, and calculate the numerical amount.) $18,000 is invested in an account paying 3% interest compounded quarterly.

Business Math

Solve the following by using the present value formula. Compound Amount- $675 Term of Investment-15 months Nominal Rate (%)- 2.7 Interest Compounded quarterly Present Value ___________? Compound Interest _________?

math115

Ms. Jefferson has been given a loan of $20,000 for 1 year. If the interest charged is $800, what is the interest rate on the loan?4% 2.A saleswoman is working on a 6% commission basis. If she wants to make $2,400 in one month, how much must she sell?$40,000 3.If $7,800 is ...

algebra financial polynoomials

Compounded annually, P dollars is invested at annual interest rate r for 2 years. If the interest is compounded annually, then the polynomial P (1+r)^2 represents the value of the investment after 2 years. Rewrite the expression without the parentheses. Evaluate the polynomial...

Math

$500 in 15 years at 8% annual interest compounded semiannually.

Math

Find the effective rate of interest for 5% compounded monthly.

Finance

Rick has a credit card that charges 19% interest compounded monthly. What is the true annual rate of interest for Rick's credit card?

Finance

Joe and Sue invested $1500 at Bank America in 2000, at 4% compounded quarterly. In the year 2005 they moved to another city and took the total money from their first investment added $500 and invested it at Bank Bravo, at 5% compounded quarterly. a. What is the value of this ...

Math

Use the compound interest formula to solve: $18,000 is invested in an account paying 3% interest compounded quarterly. Find the amount of money in the account at the end of 10 years. (Show values substituted in the formula, and calculate the numerical amount.)

math

Fritz benjamin buys a car costing $12300. He agrees to make payment at the end of each month period for 8 years. He pays 7.2% interest compounded monthly. what is the amount of each payment? find the total amount of interest fritz will pay?

college math

A $8700 personal loan at 5.5% compounded monthly is to be repaid over a 4 year term by equal monthly payments. a) calculate the interest and principle component of the 18th payment b) how much interest will be paid in the third year of the loan?

college math

A $8700 personal loan at 5.5% compounded monthly is to be repaid over a 4 year term by equal monthly payments. a) calculate the interest and principle component of the 18th payment b) how much interest will be paid in the third year of the loan?

Finance

John deposited $1000 on 1st January 2011 in an account paying interest of 12% per annum compounded quaterly. He also deposited $800 (on 1st January 2011) in another account which pays 15% per annum effective interest. Find the time(n) when the two accounts will be equal value ...

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