12 Answered Questions for the topic Compounded Interest
Growth of an Account
Russ McClelland, who is self-employed, wants to invest $60,000 in a pension plan. One investment offers 5% compounded quarterly. Another offers 4.75% compounded continuously. If Russ chooses the... more
You decide to invest $7000 and have a choice between two accounts.The first pays 6% per year,compounded quarterly (four times).The second pays 5.95% per year,co
You decide to invest $7000 and have a choice between two accounts.The first pays 6% per year,compounded quarterly (four times).The second pays 5.95% per year,compounded continuously.How much would... more
An investor has deposited $80,000!in an account that pays 5.3% annual interest, compounded continually .
An investor has deposited $80,000 in an account that pays 5.3% annual interest, compounded continually. How long will it take until the accounts balance is $100,000?
Compounded Interest Annual Rate
How much money will there be in an account at the end of 10 years if $2000 is deposited at a 4.5% annual rate that is compounded continuously?
assume no withdrawals are made. Do not round until the final answer. than round to the nearest cent as needed.
Compounded Interest Interest Rates
A bank pays interest at an annual rate of 4% compounded continuously. How long will it take for your money to double?
Give 3 decimal places in your answer and include units.
Use the formula for sum of series to find payment information
Around January 1, 1993, Barbara Streisand (a singer/actress for those of you too young to know!)signed a recording contract with Sony Corporation for $2 million each year for 10 years. Suppose... more
Interest compounded annually
You place $800 in an account that earns 4% annual interest, compounded annually. How long will it be until you have $2000?
Monique Fournier deposited $12,500 into a savings account paying 6.5% annual interest compounded monthly. What amount will she have in her account after 3 years
How much compounded interest will she have earned?
Oscar Montez's savings account has a total of 7,201 in a account after two years. It earned 6% interest compounded quarterly. What was the amount principal
Find the accumulated amount. A if the principal P=$2,000 is invested at the interest rate of r=6% per year for t=6 years, compounded annually.
What is the proper order to enter a problem for compound interest to determine the time it takes to double an investment on a casio calculator?
using the compound interest table, calculate the compound amount after 5 years for an investment of $7,700 at 6% interest compounded quarterly
I need the answer because I dont understand how to solve the problem