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Since there are no guarantees associated with investing in a mutual fund, the interest does not work the same as say a GIC. The mutual fund is subject to the day to day activities of the stock market, increasing or decreasing in value on a day to day basis.
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You opened a savings account with the deposited 5000 in a six percent interest rate compounded daily what is the amount in the account after 180 days?
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.
What is the savings account offering which of these APRs and compounding periods offers the best ARY?
4.0730% compounded daily3.1172% compounded monthly2.0365% compounded daily
What banks offer high interest CD rates?
First rated bank is the Ge capital Retail bank with a rate of 1.04% compounded daily, but you need a blance of atleast 25,000$. Second rated is the Ally bank with 0.94& compounded daily and no minimum deposit.
What is the difference in returns between an investment compounded daily versus compounded monthly?
The difference in returns between an investment compounded daily versus compounded monthly is that compounding daily results in slightly higher returns due to more frequent compounding periods, which allows for faster growth of the investment.
How much interest does 8000 earn in one day at an interest rate of 6compounded daily What is the balance after a day?
To calculate the interest earned in one day on $8,000 at a 6% annual interest rate compounded daily, use the formula for daily interest: ( \text{Interest} = P \times \left( \frac{r}{n} \right) ), where ( P ) is the principal, ( r ) is the annual interest rate, and ( n ) is the number of compounding periods per year (365 for daily). Plugging in the numbers: [ \text{Interest} = 8000 \times \left( \frac{0.06}{365} \right) \approx 1.316 ] After one day, the balance would be the initial amount plus the interest earned, which is approximately ( 8000 + 1.316 \approx 8001.32 ).
What is the interest rate of 13.75 percent compounded monthly is equivalent to a daily compounded interest rate?
14.651
What is the formula for daily compounded interest in MS Excel?
what is the names of a prism
What is APR of 14.8 percent interest compounded daily?
14.8 percent, compounded daily, is approx 7.565 sextillion for a year (8.684 sextillion for a leap year).
150 if invested for three years at a 9 percent interest rate?
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
How much is an account at beneficial savings bank?
To have an account at Beneficial Mutual Savings Bank you need to deposit at least$50. The interest is compounded daily. It has the best rates also. Good place to have an account.
If the daily interest rate is 3.50 percent what is the annual interest rate?
3.5% interest compounded daily is equivalent to 3.562% annual yield.(It can't possibly be 3.5% daily. That would compound to 28,394,072% in a year.)
What is 446 4 interest compounded daily for 176 days?
$454.69 for $8.69 of cumulative interest over 176 days.
You opened a savings account with the deposited 5000 in a six percent interest rate compounded daily what is the amount in the account after 180 days?
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.
What is better to have your interest compounded annually quarterly or daily?
Compounding interest more frequently results in a higher effective return on your investment. Therefore, daily compounding is better than quarterly or annually, as it allows interest to be calculated and added to the principal more often, leading to increased growth over time. The more frequently interest is compounded, the more interest will be earned on interest, maximizing your overall returns.
What is the savings account offering which of these APRs and compounding periods offers the best ARY?
4.0730% compounded daily3.1172% compounded monthly2.0365% compounded daily
What is the daily interst on the annual rate of 17.7 percent?
If the interest is compounded on a daily basis, for 365 days, the equivalent rate is 0.04466 per cent.
If you deposit 10000 in a bank account that pays 10 percent interest annually how much would be deposited in your account after 5 years?
$16,105.10 if compounded yearly, $16,288.95 if compounded semi-annually, $16,386.16 if compounded quarterly, $16,453.09 if compounded monthly, and $16,486.08 if compounded daily.
