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Jackie invested 12000 in a certificate of deposit at 6. She also put 3000 in a savings account at 3. How much interest will she earn after one year?
To calculate the interest Jackie will earn after one year, we can use the formula for simple interest: Interest = Principal × Rate. For the certificate of deposit (CD), the interest is ( 12,000 \times 0.06 = 720 ) dollars. For the savings account, the interest is ( 3,000 \times 0.03 = 90 ) dollars. Therefore, the total interest earned after one year is ( 720 + 90 = 810 ) dollars.
What is 60 percent off 700 dollars?
60% of $700 is 420 leaving a balance of 280
Ramona has 8 dollars in her account and adds 1 dollar a week Claire has 12 dollars in her account and adds 3 dollars a week After how many weeks will Claire's account have twice the amount of Romona's?
3 weeks Ramona would have 11$ and Claire have 22$ 4 weeks Ramona would have $12 and Claire would have $24, after 3 weeks Claire would only have $21- sorry it was 4 weeks my bad
What if Byron purchased a 5000 certificate of deposit (CD) at his local bank. The CD will pay him 7 simple interest. How much interest In dollars Will Byron have earned from his Cd at the end of a 2 y?
$724.50
A women has z dollars to spend After she spends 500 how much money does she have left?
After spending 500 dollars, the woman would have ( z - 500 ) dollars left. This represents her original amount of money, z, minus the amount she spent. If z is less than 500, she would have a negative balance, indicating she has overspent.
Does Chase bank have free checking accounts?
Chase Bank does have free checking as long as you have a minimum balance of 100 dollars. there are also interest bearing checking accounts were if you maintain a balance of at least 1500 dollars your account will receive interest on your checking account.
You deposit 700 in an account that pays 8 percent interest compounded yearlyfind the balance after 13 years?
You will have 1903.737 dollars in your account at the end of 13 years. The year wise end balance will be:756816.48881.798952.3421028.531110.8121199.6771295.6511399.3031511.2471632.1471762.7191903.737This is under the assumption that you don't deposit any fresh funds into your account and initial 700 dollars + the accumulated interest is all that is available in the account.
Franklin just deposited 364 dollars into his checking account If Franklin now has a total of 500 dollars in his account how much did he have originally?
Newly deposited amount: 364 dollars Current Bank balance: 500 dollars Previous balance:? Previous balance = current balance - newly deposited amount = 500 - 364 = 136 Franklin had 136 dollars in his account before he made the 364 dollar deposit
What does a deposit of 24 dollars mean?
-24
Which savings vehicle usually requires a high minimum balance?
A money market account typically requires a high minimum balance compared to regular savings accounts. These accounts often offer higher interest rates and may come with check-writing privileges, but they also impose minimum deposit requirements that can range from hundreds to thousands of dollars. Maintaining the minimum balance is essential to avoid fees and to earn the advertised interest rate.
How much cash must be deposited to open a checking account at the Whidbey Island Bank?
"Whidbey Island bank requires you to make a deposit of 100 dollars to open a checking account with them. If you are opening a savings account, you must deposit at least 150 dollars."
Who much is the opening deposit for a checking account?
It depends on the bank and also the type of account you are opening. for example a basic feature savings account in a nationalized bank in India requires a min balance of 500 rupees and for an account with a cheque book requires 1000 rupees for private banks the min balance is usually 2500 or 5000 or even more based on the facilities provided.
What should be the minimum balance to be maintained in personal ledger accounts?
The minimum balance to be maintained in personal ledger accounts can vary depending on the bank or financial institution's policies, as well as the type of account held. Generally, it ranges from zero to a few hundred dollars. Some accounts may require a higher minimum balance to avoid monthly maintenance fees or to earn interest. It's essential to check specific account terms to determine the exact requirements.
Can you deposit 94 million dollars in one account?
Of course I can, where is the money, is today or Monday?
What is the minimum deposit to open a savings account with SunTrust?
The minimum deposit required in order to open a savings account with Sun Trust in one hundred dollars and with this you can start your own savings account with Sun Trust.
Characteristics of Money Market Accounts?
When going to a bank to open a new account, many people are confused as to what kind of account they want to offer. Most banks normally offer several different risk free accounts including checking accounts, savings accounts, and certificates of deposit (CD). One other account, which is quite popular with many people, is a money market account. Money market accounts have many attributes that separate them from other types of deposit accounts. One characteristic of a money market account (MMA) is that the account is guaranteed to not lose money. The account is completely risk free, although the interest rate that is offered by the bank is subject to change. Not only is the account guaranteed to not lose value, but the account is guaranteed and federally backed by the FDIC. This means that even if the bank goes under, the owner of the account will be able to retain their investment. Keep in mind that the FDIC guarantee is only good up to about $250.000. Therefore, if you have more than $250,000, it would be wise to open more than one account. Another characteristic of a MMA is that they pay higher interest rates than other risk free accounts. Most banks offer checking accounts, savings accounts, and money market accounts. Banks normally offer the highest rates on MMAs. As mentioned earlier, the interest rate offered on a MMA is not guaranteed by the bank, unless they mention it in the agreement. The third characteristic of an MMA account is that there are often account minimums. Since the MMA offers a higher rate of return, the banks normally require a larger account balance to compensate. Minimum balances vary from just a few hundred dollars up to over $50,000. Normally, the higher the minimum balance, the higher the interest rate. While you are free to withdraw funds at anytime, to keep the account compliant with the account agreement, you may never drop the savings level below the minimum balance. If the balance does drop below the minimum balance, the account holder may incur fees.
If you put 5000 dollars in the bank in one year how much will you have?
It depends on how you deposit the money 5000 dollars. Checking accounts usually pay very little or 0 interest so we won't be taking that as an option. a. Savings Account - Savings account usually earn around 1% interest per year. So it will be: 50 dollars in 1 year b. Certificate of Deposit - CD's usually earn around 4% interest per year. So it will be: 200 dollars in 1 year
