How much money should be deposited today in an account that earns 8% compounded monthly so that it will accumulate to 11000 in three years?

How much money should be deposited today in an account that earns 8% compounded monthly so that it will accumulate to 11000 in three years?

Question: How much money should be deposited today in an account that earns 8% compounded monthly so that it will accumulate to $11,000 in three years? The amount of money that should be deposited is $1.

How long will it take for $7000 to double at the rate of 8 %?

The rule says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.

How many years are required for an amount of money to quadruple if it is invested at 4% interest rate?

From there, we know that we want to quadruple our investment, so we can replace A and P to indicate that: 4 = 1(1 + . 033/2)^(2t). When we simplify this equation, we get 4 = 1.0165^(2t). Solving for t gives us 42.3545 years.

How long will it take $10000 to reach $50000 if it earns 10% annual interest compounded semiannually?

Question: How long will it take $10,000 to reach $50,000 if it earns 10% annual interest compounded semiannually? Answer: 16.5 years Please show steps to solving this, using the below Equation.

How long will it take $100.000 to double at 8 %?

For example, if you earn an 8 percent annual return, it will take about 9 years to double.

How long would it take you to double your principal in an account that pays 3.5% annual interest compounded continuously?

1 Expert Answer So the answer is 8.66 years.

How much money would you need to deposit today at 9% annual interest compounded monthly to have 12000 in the account after 6 years?

You would need to deposit $7007.08 to have $12000 in 6 years.

How long will it take 500 to be four times in value if invested at the rate of 7% compounded semi annually?

The money will be quadruple in 20.15 years if it earns 7% compounded semi-annually.

What is the rule of 144 in finance?

Rule 144 provides an exemption and permits the public resale of restricted or control securities if a number of conditions are met, including how long the securities are held, the way in which they are sold, and the amount that can be sold at any one time.

How often do you get compound interest on a deposit?

Financial institutions often offer compound interest on deposits, compounding on a regular basis – usually monthly or annually. The compounding of interest grows your investment without any further deposits, although you may certainly choose to make more deposits over time – further increasing your savings growth rate.

What’s the difference between compounded and annual interest rates?

Also, an interest rate compounded more frequently tends to appear lower. For this reason, lenders often like to present interest rates compounded monthly instead of annually. For example, a 6% mortgage interest rate amounts to a monthly 0.5% interest rate. However, after compounding monthly, interest totals 6.17% compounded annually.

How to calculate the compound interest rate of 6%?

It offers a 6% APY compounded once a year for the next two years. Use the equation above to find the total due at maturity: A t = $1,000 × (1 + 6%) 2 = $1,123.60 For other compounding frequencies (such as monthly, weekly, or daily), prospective depositors should refer to the formula below.

How does compounding affect the interest on a loan?

Compounding frequencies impact the interest owed on a loan. For example, a loan with a 10% interest rate compounding semi-annually has an interest rate of 10% / 2, or 5% every half a year. For every $100 borrowed, the interest of the first half of the year comes out to: $100 × 5% = $5