5000 dollars is invested in a bank account at an interest rate of 7 per cent per year, compounded continuously?
5000 * e^( 0.07 * t ) = 46000 * 1.05^t Solve for t. And to show how ridiculous Power53's long winded solution is, it's just: ln(5000) + 0.07 * t = ln(46000) + ln(1.05) * t 0.07 *t - ln(1.05) * t = ln(46000) - ln(5000) ( 0.07 - ln(1.05 ) ) * t = ln(46000) - ln(5000) t = ( ln(46000) - ln(5000) ) / ( 0.07 - ln(1.05) ) t = 104.63 years To the nearest year, it's 105 years.
You want to deposit $15,000 in a bank at an interest rate of 7 percent per year.?
approx $18,490 PV= $15,000 FV= solve for PMT= 0 I/YR= 7% N= 36 punch these in your HP II calculator and you will get the approx answer.
If I keep my 10,000 as a fixed deposit, what will the interest be per month in SBI?
It depends upon the period for which you keep the depositThe minimum period is 14 days and maximum period is ten years.The interest rates go on increasing from 14 days to one year and remains steady upto three years and after three years, it is in the downward trend.It is better that we deposit the amount upto three yearsNow the maximum interest payable for one year is 7.50 percent (Different banks give different rates and you have to approach SBI and find out the exact rate)Let us imagine you are depositing the amount for one yearThe total interest payable for one year is Rs. 750.00 and normally interest is paid at quarterly rests and if you want monthly interest, the interest will be discounted (will be reduced since you are withdrawing interest for two months per quarter earlier). Under the above circumstances. the interest per month will be Rs. 60/- only and in total you will be getting Rs. 720.00 (60 x 12)
How much interest money will I get every month, if I deposit 1 lakh ₹ for 1 year?
If you Deposit 1 lakh In HDFc bank4% interest every year that means4%*1,00,000 =4000/12 months= 333.33 per one monthevery month 333.33,if you put your money in fixed deposit for 1 years after 1 year you will recieve 8000
If you require a 9 percent return on your investments, which would you prefer? ?
I'm not answering these questions for you. If finance or business is going to be your major or future career please go ahead and purchase a BA II Plus from Texas Instuments. Good luck in any classes that are above this level because to be honest this stuff is just intro level first month of the class stuff. Get the BA II plus it will help you greatly.
Finance: Calculating interest paid on loan in year three?
10 years at $2900 a year seems a bit high - so did you double check? [actually, you are correct, but Gina is erroneously using the GROWTH formula ( i e Future Value ) of a lump sum deposit) Anyway, you can do the problem manually Yr1 : 19,500 * 1.08 = ____ - 2906.07 = new principal Yr2 : np fwd * 1.08 = _____ - 2906.07 = newer, more current principal aka PV Yr3 : nmcpr fwd * .08 = ____ the interest due at the end of yr 3 ... you do the arithmetic. (yes, 1336.01) [there is a way to get the PV Present Value at the end of yr 2, but I doubt you are there yet.]
What is the future value three years from now of $1,000 invested in an account with a stated annual interest rate of 8% if compounded monthly?
Your basic future value formula is:FV = PV (1+i) ^ nWhere:FV = Future ValuePV = Present value = $1000i = interest rate per period = 8/2 = 4% = 0.04n = number of periods = 6 semi annual periodsPlug the values in and solve for FV. You will get $1,265.32
If I made a fixed deposit of 1 lakh Rupees for 5 years with 7.75% interest and quarterly compound, how much money will I be getting at the end of 5 years?
Scenario 1 : You took cumulative option. i.e. you will receive all money at maturity. You will get Rs. 146,784 Rs. Money might be actually less if bank cuts TDS, as bank is obligated to cut 10% TDS if interest in the year is over 10,000.Scenario 2: You take monthly interest option:You will get Rs. 645.83 every month and get Rs. 1 L on maturity.
At what rate of simple interest will a sum of money double itself in 8 years?
Why maximum people here complicting the problem. It is very simple, apply some logic.