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The total interest is 67.65 dollars.
No if the account earns interest daily, it's earning interest on interest essentially. So if you have $100 and you earn 1% interest, you would have $101 dollars the next day and earn 1.01 dollars in interest, and so on.
A $5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
2.15% Apex
The annual compound interest rate is 18 percent.
An incredible 42.4%
18.90currency as an interest..
8500 x ((1.065) to the 10th power) = 15955.67
Hey maybe don’t show the question if there isn’t an answer!
Interest rates vary depending on the bank the savings account is in. For a high yield savings account, interest rates can be from 0.95-3.0% annual percentage yield.
$16 million, million dollars. The question is how much is the annual interest payment on that every year?