168 Answered Questions for the topic Compound Interest

Compound Interest

11/07/14

I need to find the annual interest rate
You make an investment of $3000 in an account in which interest is compounded annually. This investment grows to $3215.96 after 5 years. What is the annual interest rate?
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Compound Interest Interest Rates Finance Charge

10/01/14

What is the finance charge on the credit card account?
Month: 31 days Previous Month's Balance: $950 Interest Rate: 21%   Date                Transaction May 3              made payment of $370 May 12            charged $106 for rental car May... more
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Compound Interest

08/27/14

If you have compounded annual interest at 5%, but it only starts halfway through the year can it be calculated?
I want to know if it's possible to calculate interest that is compounded annually at a rate of 5% for an amount that began halfway through the year.  Is there a formula that determines the interest... more
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Compound Interest

07/21/14

help with compound interest
how do I found the compound interest if it is compounded quarterly.  The principal is $1000 and interest rate is 6%.   I know the rate would be 6% divided by 4 = 1.5% but I for some reason cannot... more
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07/12/14

How much must you invest each month in a mutual fund yielding 13.4% compounded monthly to become a millionaire in 10 years?
Finite Mathematics Problem
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Compound Interest

06/26/14

Use compound interest formula: A = P(1 + r)^t and the given information to solve for r
The given information to solve for r are:   A = $4,000,000   P = $40,000   t = 40   Please help solve in step by step manner to determine the r.
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Compound Interest

06/09/14

Mary deposits $15,000 into a savings account that pays 3.75% interest compounded daily. What will the balance be after five years?
The process of calculating compound and simple interest on an investment which might be appreciating or depreciating in value. The step by step explanation will helpful. Thanks for your previous... more
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04/30/14

compound interest story problem
Suppose $1000 is invested at interest rate k, compounded continuously, and grows to $1144.54 in 3 years.   1) What is the interest rate? 2) What is the exponential growth formula? 3) What is... more
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Compound Interest Algebra 1 Algebra Help Math Help

04/29/14

compound intrest
$15,000 is invested in an account paying 2.5% annual interest compounded quarterly. Find the amount of money in the account at the end of 10 years. Show work, round your final answer to the nearest... more
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Compound Interest

02/16/14

Compound Interest Question
You can afford monthly deposits of $140 into an account that pays 3.0% compounded monthly. How long will it be until you have $6,600 to buy a boat? Type the number of months:___ (round to the... more
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02/01/14

The following formula is incorrect for compound interest with the symbols defined this way, can someone tell me why?
The following formula is incorrect for compound interest with the symbols defined this way, can someone tell me why?     Compound Interest is described by A = P(1+rm)^n, where P is the... more
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Compound Interest

12/06/13

Compound interest
Suppose you are managing an account in which you deposit  $20,000 at the end of each year for 20 years. How much amount you have accumulated with the assumption that you earn 5% interest compounded... more
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Compound Interest

05/29/13

interest problem
suppose that you save for retirement by contributing the same amount each month from your 23rd birthday until your 65th birthday in an account that pays a steady 4% annual interest compounded... more
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Compound Interest

05/13/13

Calculating compound interest
Heather received $100 for her 13th birthday. If she saves it in a bank with 3% interest compounded quarterly, how much money will she have in the bank by her 16th birthday?          
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Compound Interest

04/22/13

Suppose you deposit $3,000 for 6 years at a rate of 7%. I don't understand this question.
A=P(1+ r/n)nt        All work needs to be shown on how answer was calculated a) Calculate the return (A) if the bank compounds semi-annually. Round your answer to the nearest cent. b) Calculate... more
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Compound Interest

03/20/13

Is the compound interest formula—such as would be used to calculate a car loan
Is the compound interest formula—such as wouldbe used to calculate a car loan—an example of a function? If yes, of what typeof function is it an example of? Why might you identify it with that type... more
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Compound Interest

03/02/13

How do you compute compounded interest, when it changes half way through?
You deposit $4000 in an account that pays 8% interest compounded semiannually. After 4 years, the interest rate is increased to 8.24% compounded quarterly. What will be the value of the account... more
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Compound Interest Math

11/02/12

I have a quastion please.
Find the value of annuity of a =$8000, I = 0.010, n =25
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