Investment
If an investor invests $2000 on January 1st, every year guarantees him 4% per annum. If the interest is calculated on December 31st, how much will the account be at the end of the 10th year?
Correct answer:
Showing 1 comment:
Zak
In this question, they are asking how much will be in the account at the end of the 10th year which means we have to find the sum and not the tenth member of the series.
Tips for related online calculators
Our percentage calculator will help you quickly and easily solve a variety of common percentage-related problems.
Do you want to convert time units like minutes to seconds?
Do you want to convert time units like minutes to seconds?
You need to know the following knowledge to solve this word math problem:
Units of physical quantities:
Themes, topics:
Grade of the word problem:
Related math problems and questions:
- Account operations
My PHP 90,000 savings in a bank earns 6% interest in a year. If I deposit an additional PHP 10,000 at the end of 6 months, how much money will be left if I withdraw PHP 25,000 after a year? - Extraordinary 67214
On January 1st, Stefan had 2156 euros in his bank account. He deposited 25 euros into the bank every month. In July, he made an extraordinary deposit of 1,520 euros; in September, he withdrew 987 euros. What is the account balance on December 31st? - Deposit is pesos Sally deposits Php.22,000 in her savings account. If the bank pays 1.5% interest per year, how much will she receive at the end of the year?
- Melanie Melanie invests a total of $21,500 in two accounts. The first account earned a rate of return of 15% (after a year). However, the second account suffered a 10% loss in the same time period. At the end of one year, the total amount of money gained was $225
- Interest compounded annually
If you deposit $4500 at 5% annual interest compounded annually, how much money will be in the account after ten years? - Deposit account
How much money will be in the account after ten years if you deposit $4500 at a quarterly 5% annual interest compound? - Beef taxation
In December, beef cost € 5.71 per 1 kg. How much should the price of 2.5 kg of beef change if VAT changed from 20% to 10%? How much will 2.5kg cost in January?
