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Your question cannot be answered without knowing what period you are talking about. Is the period a year, a month, a day? Compound interest means that interest is added periodically on the latest sum of principle and interest for that period. For example, let's say your interest rate of 5.6 percent is compounded (or calculated) annually (APR). On a $1000 dollar investment, you would earn $56 dollars at the end of a year (1000+(1000*0.056)). If you withdraw your money after 365 days you would receive $1,056. Next year (assuming you left the money there) you would receive $1,115.40 (1056+(1056*.056)). Good luck finding that. Even so, save your money. It's still worth more in your pocket than spent.
What else can I help you with?
What are the major differences between compound interest loan and simple interest loan?
With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.
Determine the per annum interest rate r required for an investment with continuous compound interest to yield an effective rate of 4.25 percent Express your answer as a percent?
We still need to know how often the interest is compounded ... Weekly ? Daily ? Hourly ? What does "continuous" mean ?
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 the total compound interest of a loan for 5000 with an annual interest rate of 8 percent at the end of a two-year period?
It is 832 units of currency.
What is compound interest of 1500 dollars for 5 years at interest of 5 percent?
Compound interest functions can be represented as [(1+i)^t]*n, where i = interest rate t = time n = original number [(1.05)^5]*1500 = $1914.42
What is the annual compound interest rate for an investment account modeled by the function y 12 1.18t?
The annual compound interest rate is 18 percent.
What is the total compound interest of a loan for 5000 with an annual interest rate of 8 percent at the end of a two year period?
$432
What is the total compound interest of a loan for 5000 with an annual interest rate of 8 percent at the end of two year period?
$432
What are the major differences between compound interest loan and simple interest loan?
With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.
Determine the per annum interest rate r required for an investment with continuous compound interest to yield an effective rate of 4.25 percent Express your answer as a percent?
We still need to know how often the interest is compounded ... Weekly ? Daily ? Hourly ? What does "continuous" mean ?
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 the total compound interest of a loan for 5000 with an annual interest rate of 8 percent at the end of a two-year period?
It is 832 units of currency.
What is compound interest of 1500 dollars for 5 years at interest of 5 percent?
Compound interest functions can be represented as [(1+i)^t]*n, where i = interest rate t = time n = original number [(1.05)^5]*1500 = $1914.42
What is the interest on a 1750000 deposit at 9.5 percent rate a year?
It depends whether the interest is compound or not. However, if the interest is credited at the end of the first year, you would have 166250 interest at 9.5%
What is the calculation for a simple compound interest rate?
There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.
How long will it take Mr Books to earn 675 in interest if he invests 4500 at an annual rate of 5 percent?
Assuming the interest is NOT compound - 3 years !
What is the formula periodic interest rate?
The formula for the periodic interest rate is given by dividing the annual interest rate by the number of compounding periods in a year. It can be expressed as: [ \text{Periodic Interest Rate} = \frac{\text{Annual Interest Rate}}{n} ] where (n) represents the number of compounding periods (e.g., 12 for monthly, 4 for quarterly). This calculation helps in determining the interest accrued during each compounding interval.
