compound interest

6700 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the account after 28 years, to the nearest cent? Using our balance with interest calculator, we get: 61,667.47

7100 dollars is placed in an account with an annual interest rate of 7.75%. How much will be in the account after 30 years, to the nearest cent? Using our balance with compound interest calculator, we get: 66,646.40

Suppose you deposited $1200 in an account paying a compound interest rate of 6.25% quarterly, what would the account balance be after 10 years? Using our compound interest with balance calculator, we get: $2,231.09

A person invests $9400 in an account at 5% interest compound annually. When will the value of the investment be $12,800. Let's take it one year at a time: Year 1: 9,400(1.05) = 9,870 Year 2: 9,870(1.05) = 10,363.50 Year 3: 10,363.50(1.05) = 10,881.68 Year 4: 10.881.68(1.05) = 11,425.76 Year 5...

Dick invested $9538 in an account at 10% compounded annually. Calculate the total investment after 10 years. Round your answer to the nearest penny if necessary. Annual compounding means we don't need to make adjustments to interest rate per compounding period. Using our compound interest...

Kendra has $20 in a savings account. The interest rate is 10%, compounded annually. To the nearest cent, how much will she have in 2 years? Using our balance with interest calculator, we get $24.20.

A principal of $3300 is invested at 3.25% interest, compounded annually. How much will the investment be worth after 10 years? Using our balance calculator with compound interest, we get: $4,543.75

How much would you need to deposit in an account now in order to have $6000 in the account in 15 years? Assume the account earns 8% interest compounded monthly. 8% compounded monthly = 8/12 = 0.6667% per month. 15 years = 15*12 = 180 months We want to know an initial balance B such that...

Charlene wants to invest $10,000 long enough for it to grow to at least $20,000. The compound interest rate is 6% p.a. How many whole number of years does she need to invest the money for so that it grows to her $20,000 target? We want 10,000(1.06)^n = 20,000. But what the problem asks for is...

Brad has $40 in a savings account. The interest rate is 5%, compounded annually. To the nearest cent, how much will he have in 3 years? Using our balance with interest calculator, we get $46.31.

You deposit $150 into an account that yields 2% interest compounded quarterly. How much money will you have after 5 years? 2% per year compounded quarterly equals 2/4 = 0.5% per quarter. 5 years * 4 quarter per year = 20 quarters of compounding. Using our balance calculator, we get $165.73 in...

Suppose that 25400 is invested in a certificate of a deposit for 3 years at 6% annual interest to be compounded semi annually how much interest will this investment earn? 3 years, compounded semi-annually, gives us 3 x 2 = 6 periods. Using our balance with interest calculator, we get $30,328.93

Find the future value and interest earned if $8806.54 is invested for 9 years at 6% compounded (a) semiannually and (b) continuously a) 14,992.54 using our balance with interest calculator b) 15112.08 using our continuous interest balance calculator

Joey puts $1,000.00 into an account to use for school expenses. The account earns 12% interest, compounded annually. How much will be in the account after 6 years? Using our balance calculator, we get $1,973.82

9000 dollars is placed in an account with an annual interest rate of 8%. How much will be in the account after 17 years, to the nearest cent? Using our compound interest accumulated balance calculator, we get: $33,300.16

Levi invested $630 in an account paying an interest rate of 4.6% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $970? 3,425 days, per the balance calculator.

You are given a choice of taking the simple interest on $100,000 invested for 5 years at a rate of 2% or the interest on $100,000 invested for 5 years at an interest rate of 2% compounded daily. Which investment earns the greater amount of interest? Give the difference between the amounts of...

The jimenez family inherited land that was purchased for $50,000 in 1967. The value of the land increased by approximately 4% per year. What is the approximate value of the land by the year 2016? 1967 to 2016 is 49 years. So we have 341,667.47 using our compound interest calculator.

Following the birth of triplets, the grandparents deposit $30,000 in a college trust fund that earns 4.5% interest, compounded quarterly. How much will be in the account after 18 years? 18 years = 18 * 4 = 72 quarters. Using our compound interest balance calculator, we have: $67,132.95

Dave has a savings account that pays interest at 3 1/2% per year. His opening balance for May was $1374.67. He did not deposit or withdraw money during the month. The interest is calculated daily. How much interest did the account earn in May? First, determine n, which is 31, since May has 31...