Compounding interest

Compounding interest

If $1100 dollars is deposited in an account paying 8 percent annual interest, approximate the amount in the account after 16 years

I want to know this answer i was asked by my new financee

How much additional interest will I pay on a loan balance if I take out another simple interest loan to pay the balance? I took a loan for $10,000 with simple interest of $1000 to equal a payoff...

A person has $10,000.00 to invest, he puts the money into two Banks. One gives 2% interest, the other 4%, the total interest he got in a year was $320.00, how much did he place into each bank?

on $800 at 3% interest for 6 months?

at 4% interest compounded daily. how much was in the account at the end of 5 years?

Juwan invests $7600 in two different accounts. The first account paid 6 %, the second account paid 14 % in interest. At the end of the first year he had earned $816 in interest. How much was in each...

Applying the Concepts

Whenever I type this problem: 5000(1+1.15)^68, I get this answer: 2.0173687011×10^26. According to my online homework (MyMathLab) that is incorrect. It should look like this: 35805.0308354 when...

I need help with this question for simple interest. The principal given is 50000 from 11 November 2016 to 10 May 2017 (181days) with an annual interest rate of 4.5%. I know that the amount of interest...

T (months)=0,1,2,5,10,20,30 A ($)= 500,__,__,__,530.76,__,__

You decide to invest some money in two different money market accounts. One account (account A) pays 3% interest. The other account (account B) pays only 2% interest but offers a $20 bonus for signing...

I am confused as to how to find the answer

does anyone know the formula for this question as well as the solved answer?

Pick an expensive item you want to buy within the next five years. Using current interest rates, find out how much you would have to save today. List the possible roadblocks to reaching...

I am not sure what formula to use.

Need help with some finite math it is college level math. need help asap

How much must you deposit today at 7% interest (compounded annually) for the next 10 years in order to be able to withdraw $30,000 per year (ordinary annuity) for four years, starting in 10 years...

This is an internal assessment for IB math :) Basically I want to determine how much money I need to deposit in the bank every year for 30 years if I want to have $1 million by...