What is the principal in the1p following word problem?"Calculate the compound interest if you deposit $15000 at a rate of8% for 10 years when it is compounded monthly." 相关知识点: 试题来源: 解析 ansWer:12000 analysis:Interest = principal × interest rate × deposit period and principle is...
If $6000 is invested at 10% compounded monthly,what is the amount after 5 years?可不可以写下过程 相关知识点: 试题来源: 解析 翻译:如果6000美元以月息10%的方式投资5年,会剩下多少钱?由于银行不存在利滚利,所以我觉得就是 6000+6000*10%*12*5=42000.汗,很假,10%利息的确太高了点 反馈 收藏 ...
monthly, or yearly. Discrete compounding is contrasted to continuous compounding where interest is compounded continuously—at shorter intervals than discrete compounding.
The interest is compounded either annually, semi-annually, quarterly, monthly, or even daily. Though the interest can be accrued whenever desired, it can formally be recorded only monthly. Once it is formally reflected in the accounts, the monthly compound interest rate is applied. The accruing ...
What is the effective annual rate on a 9.5% APR loan if interest is compounded monthly?Question:What is the effective annual rate on a 9.5% APR loan if interest is compounded monthly?Effective Annual Interest Rate:The concept of the effective annual interest rate should ...
Compound interest is when interest accrues on interest. It can make loans more expensive for borrowers, but it can also help savers earn more interest over time. For example, someone puts $5,000 into a savings account that has a 3% interest rate. If the account uses simple interest, it ...
n:thenumber of compounding periodsper year (for example, monthly is 12, and weekly is 52). t:the amount oftime(in years) through which your money compounds. Doing the Math You have $1,000 earning 5% compounded monthly. How much will you have after 15 years?
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(iv) n=12 if the amount is compounded monthly. (v) n=365 if the amount is compounded daily. Answer and Explanation: The principal amount is, P=$6300. Time is, t=3 years. The rate of interest is, r=6%=6100=0.06. Th...Become...
Compounding is what happens when you carry something forward, which then contributes to growth. Profits are compounded when you use the gains from an investment to invest even more. Interest is compounded when more interest is charged on existing interes