You should have 5976.51 provided the fractional units of interest earned are also rolled into the capital.
750 invested for 10 years at 10% pa would be 1,945
74 or 75 years
At 6% interest, the total amount of money increases by a factor of 1.06 (100% + 6%) every year, so to get the amount after 4 years, you calculate 900 x 1.064.
The answer depends on whether the 7.5 percent refers to an annual equivalent rate (AER) or a semi-annual rate.If it the AER, then the amount is 12074.41 (approx).In the unlikely event that it is the 6-month rate (equivalent to almost 15.6% per annum), the initial amount is 9719.42The answer depends on whether the 7.5 percent refers to an annual equivalent rate (AER) or a semi-annual rate.If it the AER, then the amount is 12074.41 (approx).In the unlikely event that it is the 6-month rate (equivalent to almost 15.6% per annum), the initial amount is 9719.42The answer depends on whether the 7.5 percent refers to an annual equivalent rate (AER) or a semi-annual rate.If it the AER, then the amount is 12074.41 (approx).In the unlikely event that it is the 6-month rate (equivalent to almost 15.6% per annum), the initial amount is 9719.42The answer depends on whether the 7.5 percent refers to an annual equivalent rate (AER) or a semi-annual rate.If it the AER, then the amount is 12074.41 (approx).In the unlikely event that it is the 6-month rate (equivalent to almost 15.6% per annum), the initial amount is 9719.42
percent change
Semiannually over two years is equivalent to 4 periods. If the interest is 12% every 6 months, then the amount of interest is It is 8000*[(1.12)4 -1] =4588.15
If you opened a savings account and deposited 5000 in a six percent interest rate compounded daily, then the amount in the account after 180 days will be 5148.
I haven't gotten the answer to that test question either....the choices seem wrong
The annual equivalent rate is 15.5625%. The amount invested is irrelevant to calculation of the equivalent rate.
£765.31
13468.02
The rate is 15.56%. The amount invested is irrelevant in this calculation.
Matt will have $2,298.65.
The future value of $600 invested for 5 years at an 8% interest rate compounded semiannually can be calculated using the formula FV = P(1 + r/n)^(nt), where FV is the future value, P is the principal amount, r is the interest rate, n is the number of times the interest is compounded per year, and t is the number of years. In this case, P = $600, r = 8% = 0.08, n = 2 (since interest is compounded semiannually), and t = 5. Plugging these values into the formula, we get FV = 600(1 + 0.08/2)^(2*5) = $925.12. Therefore, the future value of the investment after 5 years would be $925.12.
False
False
There is 936.76