compound interest

a new savings account starts at $700 at a rate of 1.2% yearly. how much money will be in the account after 8 years? Using our balance and interest calculator with annual (yearly) compounding, we have: 770.09

You deposit $750 in an account that earns 5% interest compounded quarterly. Show and solve a function that represents the balance after 4 years. The Accumulated Value (A) of a Balance B, with an interest rate per compounding period (i) for n periods is: A = B(1 + i)^n Givens 4 years of...

Suppose you deposit $1000 in a college fund that pays 7.2% interest compounded monthly. Find the account balance after 12 years. Round your answer to two decimal places. Using our compound interest balance calculator, we get: $1,074.42

Christopher has $25 000 to invest. He finds a bank who will pay an interest rate of 5.65% p.a compounded annually. What will the total balance be after 6 years? Using our compound interest balance calculator, we get: 34,766.18

$300 for 13 years at 8% compounded semiannually. P=principle = original funds, r=rate, in percent, written as a decimal (1%=.01, 2%=.02,etc) , n=number of times per year, t= number of years So we have: $300 principal 13 * 2 = 26 periods for n Rate r for a semiannual compound is 8%/2 = 4% per 6...

$4700 at 3.5% for 6 years compounded monthly 6 years = 12*6 = 72 months or compounding periods. Using our balance with interest calculator, we get a final balance of: $5,796.51

Congratulations!! You are hired at Roof and Vinyl Housing Systems. Your starting salary is $45,600 for the year. Each year you stay employed with them your salary will increase by 3.5%. Determine what your salary would be if you worked for the company for 12 years. Set up a function S(y) where...

the initial deposit in a bank account was $6000 and it has an annual interest rate of 4.5%. Find the amount of money in the bank after 3 years Using our balance and interest calculator, we get: $6,853.60

Bonnita deposited $4,500 into a savings account paying 3% interest compounded continuously. She plans on leaving the account alone for 7 years. How much money will she have at that time? Using our compound interest calculator, we get: $5551.55

Lauren invested $340 in an account paying an interest rate of 5.8% compounded monthly. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 13 years? 13 years * 12 months per year = 156 compounding periods. Using our compound interest...

How much would you need to deposit in an account now in order to have $6000 in the account in 10 years? Assume the account earns 6% interest compounded monthly. We start with a balance of B. We want to know: B(1.06)^10 = 6000 B(1.79084769654) = 6000 Divide each side of the equation by...

principal $3000, actual interest rate 5.6%, time 3 years. what is the balance after 3 years Using our compound interest calculator, we get a final balance of: $3,532.75

Mr. Elk is secretly a huge fan of Billie Eilish, and is saving up for front row seats. He puts $250 in the bank that has an interest rate of 8% compounded daily. After 4 years, Billie is finally hitting up NJ on her tour. How much money does Mr. Elk have in the bank? (rounded to the nearest...

2200 dollars is placed in an account with an annual interest rate of 7.25%. How much will be in the account after 29 years Using our compound interest calculator, with an initial balance of 2,200, 29 years for time, and 7.25% annual interest rate, we get: 16,747.28

A person invests $500 in an account that earns a nominal yearly rate of 4%. How much will this investment be worth in 10 years? If the interest was applied four times per year (known as quarterly compounding), calculate how much the investment would be worth after 10 years. Using our compound...

7700 dollars is placed in an account with an annual interest rate of 5.75%. How much will be in the account after 24 years, to the nearest cent? Using our balance with interest calculator, we get: $29,459.12

How much money must be invested to accumulate $10,000 in 8 years at 6% compounded annually? We want to know the principle P, that accumulated to $10,000 in 8 years compounding at 6% annually. We plug in our values for the compound interest equation and we get: $6,274.12

7700 dollars is placed in an account with an annual interest rate of 5.75%. How much will be in the Using our compound balance interest calculator, we get: $26,525.61

8300 dollars is placed in an account with an annual interest rate of 6.5%. How much will be in the account after 14 years, to the nearest cent? Using our balance with interest calculator, we get: $20,043.46

On Melissa 6 birthday she gets a $2000 cd that earns 4% interest, compounded semiannual. If the cd matures on her 16th birthday, how much money will be available? Semiannual compounding means twice a year. With 16 - 6 = 10 years of compounding, we have: 10 x 2 = 20 semiannual periods. Using...