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Mr. Paul borrows $20,000 on condition to repay it with compound interest at 5% per annum in annual installments of $2,000 each.
A should be 100.1 and P should be 100, right? P is the amount invested and A is the amount obtained. Also, doesn't this solution assume that interest is compounded daily?
Hi, is there a way to find out the annual compound interest (A), from the interest (I) over (Y) number of years? For example: If interest over 5 years is 300%, so I=5, Y=3.0, how can I calculate A=? Thanks in advance.
Hey everyone! I've got a bit of a conundrum here. I need an equation to calculate the difference between 2 different compound interest rates, that will add the difference between each previous time period to the total, let me explain: A Youtube channel has 1000 subscribers, every month that...
Re: Derivative of Trig functions/Compound Interest problems For the first question, you want to compare the future amount of $10,000 invested at 6% compounded yearly with $9,950 invested at 5.9% compounded daily. For simplicity, we will assume a 365 day year.
OP decides to open a savings account and put $200 in each month for 5 years. If the bank pays an interest rate of 3.5% on his account, how much will he have saved up in 5 years? Future value formula right? OP puts $15,000 in a C.O.D that paid a continuous compound interest rate. After 25 years...
So our monthly payment of 100 is now only worth around 38-39 dollars. So in the example 1 FV formula above..it is the 1.XX int rate subtract 1, which leaves the interest rate by itself. But 1 minus the (I will call it the PV int rate)... is this the same logic as isolating the interest rate?
Compound Interest: You are going to invest some money at 6.5%/a, compound quartely. A tree grows in height by 21% per year. It is 2 m tall after one year.
Assume the interest rate will remain at 7.75% p.a. compounded semi-annually from the time of Jean-Guy’s death until the youngest grandchild turns 21? 3. The Central Bank pays 7.5% compounded semiannually on certain types of deposits.
Here is the relevant information: Tim has a daughter, Suzie, who is 12 years old. She wants to go to community collage at 17. Tuition is currently $3000 per year going up 4% a year. Tim decided to setup up a RESP (Canadian Education Savings Plan) for Suzie. He wants to know how much he as to...