168 Answered Questions for the topic Compound Interest

Compound Interest

04/11/16

$9000 for 3 years at 7.5% compounded monthly The total amount accumulated after 33 years is
Use the compound interest formula to compute the total amount accumulated and the interest earned.
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Compound Interest

03/22/16

Interest help
Luke decided to begin saving for retirement at the age of 32. He decided to deposit $70 at the end of each month in an IRA that pays 5% compounded monthly.What will be his interest if he decides to... more
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Compound Interest

03/22/16

Interest help
James borrowed $700.00 to purchase an Apple watch and an IPad mini. The loan required 24 monthly payments of $35.00. However, he paid off the loan in 16 payments. How much did he save by paying it... more
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Compound Interest

03/22/16

$3000 is deposited into an account that pays 5% annual interest
$3000 is deposited into an account that pays 5% annual interest for 10 years. How much more would be in the account if the interest were compounded continuously rather than quarterly?
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Compound Interest

03/02/16

how much is in the account now?
someone opened an account with $2,500 18 years ago at a 2.8% interest rate, compounded annually. how much is in the account now?
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Compound Interest

03/02/16

How much will be in the bank after 18 years
parents opened an account with $5,000 18 years ago at a 1.6% interest rate,compounded annually. how much money is in the account now?
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Compound Interest Word Problem

02/05/16

compound interest
Week 4 discussion problem # 11. How long will it take to double your money in an account paying 9%, compounded every other month? Round your answer to the nearest year and day. For example, 15... more
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Compound Interest

01/26/16

what amount must you invest today at 5% compounded annually for it to grow to $2000 in 3 years?
please show me step by step on how to solve it
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Compound Interest Precalculus Homework

01/07/16

I don't quite understand what I'm doing wrong with this question. Please help.
Hannah would like to make an investment that will turn 6000 dollars into 25000 dollars in 8 years. What quarterly rate of interest, compounded four times per year, must she receive to reach her... more
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Compound Interest

12/11/15

How much money must she deposit if her money earns 7.8% interest compounded monthly?
Holly Krech is planning for her retirement, so she is setting up a payout annuity with her bank. She wishes to receive a payout of $1100 per month for twenty years. How much money must she deposit... more
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Compound Interest

12/05/15

The desired accumulated amount is $28,500 after 5 years invested in an account with 3% interest compounded annually.
 Use the present value formula to determine the amount to be invested now, or the present value needed.
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Compound Interest

11/26/15

Compound Interest
A financial agreement requires the payment of $1200 in 9 months, $1400 in 18 months, and $1600 in 30 months. When would an alternative single payment of $4000 have to be made if money is worth 7%... more
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Compound Interest

11/25/15

loan is taken out for 1019 dollars for 26 years. If the loan is a compund interest loan at 8.3 percent compounded monthly what is the future value of the loan?
I did use the formula FV=P(1+r/m)∧mt but I got the wrong answer.
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Compound Interest Interest Rates

11/20/15

The bank offers you a 6% continuously compouding interest rate. If the bank offers you an equivalent interest rate compounded quarterly, what will that interest
The bank offers you a 6% continuously compounding interest rate. If the bank offers you an equivalent interest rate compounded quarterly, what will that interest rate be (use 3 significant figures... more
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Compound Interest

11/16/15

If Tanisha has ?$1,000 to invest at 8?% per annum compounded quarterly ?, how long will it be before she...
If Tanisha has ?$1,000 to invest at 8?% per annum compounded quarterly ?, how long will it be before she has ?$2,050?? If the compounding is? continuous, how long will it? be?   Compounding... more
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Compound Interest

11/13/15

Find the amount that results from the given investment
To get $600 after 3 years at 10% compounded monthly. The present value of $600 is $__?
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Compound Interest

11/13/15

Find the amount that results from the given investment
$10 invested at 12% compounded continuously after a period of 4 years. After 4 years, the investment results in $__?
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Compound Interest

11/13/15

Find the amount that results from the given investment
$600 invested at 3% compounded daily after a period of 3 years. After 3 years, the investment results in $__?
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Compound Interest

11/13/15

Find the amount that results from the given investment
$700 invested at 2% compounded quarterly after a period of 3 1/2 years. After 3 1/2 years, the investment results in $__?
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Compound Interest

11/13/15

Find the amount that results from the given statement.
$100 invested at 3% compounded quarterly after a period of 4 years. After 4 years, the investment results in $__ (Round to the nearest cent.
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Compound Interest

11/03/15

Alice keeps meaning to invest more in her RRSP. Her original plan was to invest $6000 eight months ago and an additional $7000 in four months. Unfortunately due
Alice keeps meaning to invest more in her RRSP. Her original plan was to invest $6000 eight months ago and an additional $7000 in four months. Unfortunately due to unforseen circumstances, she was... more
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Compound Interest

10/28/15

Maximus invests a sum of money in a bank account which earns 2%, and increases by 1% every 6 months. The interest is compounded monthly. He pulls out $4300 out
Maximus invests a sum of money in a bank account which earns 2%, and increases by 1% every 6 months. The interest is compounded monthly. He pulls out $4300 out of his account after 21 months. How... more
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Compound Interest

10/28/15

Big Stan has a choice of two different investment options. The first is to invest $13354 at 7% compounded continuously. The second is to invest $17217 at 7% com
Big Stan has a choice of two different investment options. The first is to invest $13354 at 7% compounded continuously. The second is to invest $17217 at 7% compounded monthly. After 1 years, write... more
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Compound Interest

10/28/15

One year ago, Paul divided an investment of $42000 into two equal amounts placed in separate accounts. Both accounts have a nominal rate of interest of 8%. The
One year ago, Paul divided an investment of $42000 into two equal amounts placed in separate accounts. Both accounts have a nominal rate of interest of 8%. The first account is compounded... more
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Compound Interest

10/26/15

how much time will be needed for $32,000 to grow $34,299.49 if deposited at 7% compounded quarterly
my calculator keeps giving me the answer in scientific notation and that is no correct. i know how to do the problem but for some reason i cannot get the right answer.
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