$100 is invested in a bank account that gives an annual interest rate of 3%, compounded monthly. How much money will be in the account after 7 years? 7 years * 12 months per year = 84 periods. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=100&nval=84&int=3&pl=Monthly']compound interest calculator[/URL], we get an account balance of: [B]123.34[/B]

$1000 is invested with interest at a rate of 15% per year for 9 years. Find the amount you would have, if it’s continuously compounded Using [URL='https://www.mathcelebrity.com/simpint.php?av=&p=1000&int=15&t=9&pl=Continuous+Interest']our balance calculator[/URL], we get: [B]$3,857.43[/B]

$13 in the bank. You write a check for $17. What is your balance? When you write a check, it's a debit against your account, which means we subtract. So we start with $13. We subtract $17 Our balance is $13 - $17 = [B]-$4[/B]

$300 for 13 years at 8% compounded semiannually. P=principle = original funds, r=rate, in percent, written as a decimal (1%=.01, 2%=.02,etc) , n=number of times per year, t= number of years So we have: [LIST] [*]$300 principal [*]13 * 2 = 26 periods for n [*]Rate r for a semiannual compound is 8%/2 = 4% per 6 month period [/LIST] Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=300&int=4&t=26&pl=Compound+Interest']compound interest with balance calculator[/URL], we get: [B]$831.74[/B]

$4700 at 3.5% for 6 years compounded monthly 6 years = 12*6 = 72 months or compounding periods. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=4700&nval=72&int=3.5&pl=Monthly']balance with interest calculator[/URL], we get a final balance of: [B]$5,796.51[/B]

$800 is deposited in an account that pays 9% annual interest find balance after 4 years Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=800&nval=4&int=9&pl=Annually']compound interest calculator[/URL], we get: [B]1,129.27[/B]

$8000 are invested in a bank account at an interest rate of 10 percent per year. Find the amount in the bank after 5 years if interest is compounded annually Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=8000&nval=5&int=10&pl=Annually']compound interest with balance calculator[/URL], we get: [B]12,884.08[/B]

2200 dollars is placed in an account with an annual interest rate of 7.25%. How much will be in the account after 29 years [URL='https://www.mathcelebrity.com/compoundint.php?bal=2200&nval=29&int=7.25&pl=Annually']Using our compound interest calculator[/URL], with an initial balance of 2,200, 29 years for time, and 7.25% annual interest rate, we get: [B]16,747.28[/B]

2900 dollars is placed in an account with an annual interest rate of 9%. Hoe much will be in the account after 13 years to the nearest cent Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=2900&nval=13&int=9&pl=Annually']compound interest with balance calculator[/URL], we get: [B]8,890.83[/B]

2900 dollars is placed in an account with annual interest rate of 9%. How much will be in the account after 13 years, round to the nearest cent Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=2090&nval=13&int=9&pl=Annually']compound interest calculato[/URL]r, we get a balance of: [B]6,407.53[/B]

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6700 dollars is placed in an account with an annual interest rate of 8%. How much will be in the account after 24 years, to the nearest cent? [URL='https://www.mathcelebrity.com/intbal.php?startbal=6700&intrate=8&bstart=1%2F1%2F2000&bend=1%2F1%2F2024&pl=Annual+Credit']Using our balance with interest calculator[/URL], we get: [B]$42,485.94[/B]

6700 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the account after 28 years, to the nearest cent? Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=6700&nval=28&int=8.25&pl=Annually']balance with interest calculator[/URL], we get: 61,667.47

7100 dollars is placed in an account with an annual interest rate of 7.75%. How much will be in the account after 30 years, to the nearest cent? Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=7100&nval=30&int=7.75&pl=Annually']balance with compound interest calculator[/URL], we get: 66,646.40

7100 dollars is placed in an account with an interest of 7.75%. How much will be in the account after 30 years to the nearest cent? Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=7100&nval=30&int=7.75&pl=Annually']balance with interest calculator[/URL], we get: [B]$66,646.40[/B]

7700 dollars is placed in an account with an annual interest rate of 5.75%. How much will be in the [URL='https://www.mathcelebrity.com/compoundint.php?bal=7700&nval=5.75&int=24&pl=Annually']Using our compound balance interest calculator[/URL], we get: [B]$26,525.61[/B]

7700 dollars is placed in an account with an annual interest rate of 5.75%. How much will be in the account after 24 years, to the nearest cent? [URL='https://www.mathcelebrity.com/compoundint.php?bal=7700&nval=24&int=5.75&pl=Annually']Using our balance with interest calculator[/URL], we get: [B]$29,459.12[/B]

8300 dollars is placed in an account with an annual interest rate of 6.5%. How much will be in the account after 14 years, to the nearest cent? [URL='https://www.mathcelebrity.com/compoundint.php?bal=8300&nval=14&int=6.5&pl=Annually']Using our balance with interest calculator[/URL], we get: [B]$20,043.46[/B]

9000 dollars is placed in an account with an annual interest rate of 8%. How much will be in the account after 17 years, to the nearest cent? Using our [URL='http://www.mathcelebrity.com/compoundint.php?bal=9000&nval=17&int=8&pl=Annually']compound interest accumulated balance calculator[/URL], we get: [B]$33,300.16[/B]

A $1,000 investment takes a 10% loss each year. What will be the value 3 years? 10% is 0.1. Our Balance function B(y) where y is the number of years since the start is: B(y) = 1000(1 - 0.1)^y B(y) = 1000(0.9)^y We want to know B(3): B(3) = 1000(0.9)^3 B(3) = 1000(0.729) B(3) = [B]729[/B]

A bank charges a service fee of $7.50 per month for a checking account. A bank account has $85.00. If no money is deposited or withdrawn except the service charge, how many months until the account balance is negative? Let m be the number of months. Our balance is denoted by B(m): B(m) = 85 - 7.5m The question asks when B(m) is less than 0. So we set up an inequality: 85 - 7.5m < 0 To solve this inequality for m, [URL='https://www.mathcelebrity.com/1unk.php?num=85-7.5m%3C0&pl=Solve']we type it in our search engine[/URL] and we get: m > 11.3333 We round up to the next whole integer and get [B]m = 12[/B]

A checking account is set up with an initial balance of $2400 and $200 are removed from the account each month for rent right and equation who solution is the number of months and it takes for the account balance to reach 1000 200 is removed, so we subtract. Let m be the number of months. We want the following equation: [B]2400 - 200m = 1000 [/B] Now, we want to solve this equation for m. So [URL='https://www.mathcelebrity.com/1unk.php?num=2400-200m%3D1000&pl=Solve']we type it in our search engine[/URL] and we get: m = [B]7[/B]

A company has 3,100 employees and is expected to grow at a rate of 0.04 for the next six years. How many employees will they have in 6 years? Round to the nearest whole number. We build the following exponential equation: Final Balance = Initial Balance * (1 + growth rate)^time Final Balance = 3100(1.04)^6 Final Balance = 3100 * 1.2653190185 Final Balance = 3922.48895734 The problem asks us to round to the nearest whole number. Since 0.488 is less than 0.5, we round [U]down.[/U] Final Balance = [B]3,922[/B]

A couple is opening a savings account for a newborn baby. They start with $3450 received in baby gifts. If no depositts or withdrawals are made, what is the balance of the account if it earns simple interest at 6% for 18 years? Using [URL='https://www.mathcelebrity.com/simpint.php?av=&p=3450&int=6&t=18&pl=Simple+Interest']our simple interest calculator[/URL], we get: [B]7,176[/B]

A customer withdrew $100 from a bank account. The customer then deposited $33 the next day. Write and then evaluate an expression to show the net effect of these transactions. Withdrawals are negative since we take money away Deposits are positive since we add money So we have: [LIST] [*]100 withdrawal = -100 [*]33 deposit = +33 [/LIST] Our balance is: -100 + 33 = [B]-67 net[/B]

A man invests $5,200, part at 4% and the balance at 3%. If his total income for the two investments is $194, how much money did he invest at each rate? Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=5200&i1=4&i2=3&itot=194&pl=Calculate']split fund interest calculator[/URL], we get: [LIST] [*][B]Fund 1 = $3,800[/B] [*][B]Fund 2 = $1,400[/B] [/LIST]

a new savings account starts at $700 at a rate of 1.2% yearly. how much money will be in the account after 8 years? Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=700&nval=8&int=1.2&pl=Annually']balance and interest calculator with annual (yearly) compounding[/URL], we have: [B]770.09[/B]

A principal of $2200 is invested at 6% interest, compounded annually.How much will investment be worth after 10 years? Use our [URL='http://www.mathcelebrity.com/compoundint.php?bal=2200&nval=10&int=6&pl=Annually']balance calculator,[/URL] we get: [B]$3,939.86[/B]

A principal of $3300 is invested at 3.25% interest, compounded annually. How much will the investment be worth after 10 years? [URL='https://www.mathcelebrity.com/compoundint.php?bal=3300&nval=10&int=3.25&pl=Annually']Using our balance calculator with compound interest[/URL], we get: [B]$4,543.75[/B]

A private high school charges $52,200 for tuition, but this figure is expected to rise 7% per year. What will tuition be in 3 years? We have the following appreciation equation A(y) where y is the number of years: A(y) = Initial Balance * (1 + appreciation percentage)^ years Appreciation percentage of 7% is written as 0.07, so we have: A(3) = 52,200 * (1 + 0.07)^3 A(3) = 52,200 * (1.07)^3 A(3) = 52,200 * 1.225043 A(3) = [B]63,947.25[/B]

A retired couple invested $8000 in bonds. At the end of one year, they received an interest payment of $584. What was the simple interest rate of the bonds? For simple interest, we have: Balance * interest rate = Interest payment 8000i = 584 Divide each side of the equation by 8000 to isolate i: 8000i/8000 = 584/8000 Cancelling the 8000's on the left side, we get: i = 0.073 Most times, interest rates are expressed as a percentage. Percentage interest = Decimal interest * 100% Percentage interest = 0.073 * 100% Multiplying by 100 is the same as moving the decimal point two places right: Percentage interest = [B]7.3%[/B]

A savings account earns 15% interest annually. What is the balance after 8 years in the savings account when the initial deposit is 7500 Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=7500&nval=8&int=15&pl=Annually']compound interest with balance calculator,[/URL] we get a balance of: [B]22,942.67[/B]

a student has $50 in saving and earns $40 per week. How long would it take them to save $450 Set up the savings function S(w), where w is the number of weeks. The balance, S(w) is: S(w) = Savings Per week * w + Initial Savings S(w) = 40w + 50 The problems asks for how many weeks for S(w) = 450. So we have; 40w + 50 = 450 To solve for w, we[URL='https://www.mathcelebrity.com/1unk.php?num=40w%2B50%3D450&pl=Solve'] type this equation in our search engine[/URL] and we get: w = [B]10[/B]

Alana puts $700.00 into an account to use for school expenses. The account earns 8% interest, compounded annually. How much will be in the account after 4 years? We use our [URL='https://www.mathcelebrity.com/compoundint.php?bal=700&nval=8&int=4&pl=Annually']balance with interest calculator[/URL] and we get: [B]$958[/B]

Alexandra was given a gift card for a coffee shop. Each morning, Alexandra uses the card to buy one cup of coffee. The original amount of money on the gift card was $45 and each cup of coffee costs $2.50. Write an equation for A(x),A(x), representing the amount money remaining on the card after buying xx cups of coffee. We start with 45, and each cup of coffee decreases our balance by 2.50, so we subtract: [B]A(x) = 45 - 2.50x[/B]

Alicia deposited $41 into her checking account. She wrote checks for $31 and $13. Now her account has a balance of $81. How much did she have in her account to start with? We start with a balance of b. Depositing 41 means we add to the account balance: b + 41 Writing checks for 31 and 13 means we subtract from the account balance: b + 41 - 31 - 13 The final balance is 81, so we set b + 41 - 31 - 13 equal to 81: b + 41 - 31 - 13 = 81 To solve for b, we [URL='https://www.mathcelebrity.com/1unk.php?num=b%2B41-31-13%3D81&pl=Solve']type this equation into our math engine[/URL] and we get: b = [B]84[/B]

Alyssa has $952 and is spending $27 each week (w) for math tutoring write an algebraic expression to model the situation Alyssa's balance is found by using this expression: [B]952 - 27w[/B]

An experienced accountant can balance the books twice as fast as a new accountant. Working together it takes the accountants 10 hours. How long would it take the experienced accountant working alone? Person A: x/2 job per hour Person B: 1/x job per hour Set up our equation: 1/x + 1/(2x) = 1/10 Multiply the first fraction by 2/2 to get common denominators; 2/(2x) + 1/(2x) = 1/10 Combine like terms 3/2x = 1/10 Cross multiply: 30 = 2x Divide each side by 2: [B]x = 15[/B]

[B]A[/B]t Zabowood’s Gadget Store, some items are paid on instalment basis through credit cards. Clariza was able to sell 10 cellphones costing Php 18,000.00 each. Each transaction is payable in 6 months equally divided into 6 equal instalments without interest. Clariza gets 2% commission on the first month for each of the 10 cellphones. Commission decreases by 0.30% every month thereafter and computed on the outstanding balance for the month. How much commission does Clariza receive on the third month? Calculate Total Sales Amount: Calculate Total Sales Amount = 10 cellphones * 18000 per cellphone Calculate Total Sales Amount = 180000 Calculate monthly sales amount installment: monthly sales amount installment = Total Sales Amount / 6 monthly sales amount installment = 180000/6 monthly sales amount installment = 30000 per month Calculate Third Month Commission: Third month commission = First Month Commission - 0.30% - 0.30% Third month Commission = 2% - 0.30% - 0.30% = 1.4% Calculate 3rd month commission amount: 3rd month Commission amount = 1.4% * 30000 3rd month Commission amount = [B]420[/B]

Austin deposited $4000 into an account with 4.8% interest, compounded monthly. Assuming that no withdrawals are made, how much will he have in the account after 4 years? Do not round any intermediate computations, and round your answer to the nearest cent. Using our [URL='http://www.mathcelebrity.com/compoundint.php?bal=40000&nval=4&int=4.8&pl=Annually']balance calculator[/URL], we get: [B]$48,250.87[/B]

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Barney has $450 and spends $3 each week. Betty has $120 and saves $8 each week. How many weeks will it take for them to have the same amount of money? Let w be the number of weeks that go by for saving/spending. Set up Barney's balance equation, B(w). Spending means we [U]subtract[/U] B(w) = Initial Amount - spend per week * w weeks B(w) = 450 - 3w Set up Betty's balance equation, B(w). Saving means we [U]add[/U] B(w) = Initial Amount + savings per week * w weeks B(w) = 120 + 8w The same amount of money means both of their balance equations B(w) are equal. So we set Barney's balance equal to Betty's balance and solve for w: 450 - 3w = 120 + 8w Add 3w to each side to isolate w: 450 - 3w + 3w = 120 + 8w + 3w Cancelling the 3w on the left side, we get: 450 = 120 + 11w Rewrite to have constant on the right side: 11w + 120 = 450 Subtract 120 from each side: 11w + 120 - 120 = 450 - 120 Cancelling the 120's on the left side, we get: 11w = 330 To solve for w, we divide each side by 11 11w/11 = 330/11 Cancelling the 11's on the left side, we get: w = [B]30 [MEDIA=youtube]ifG_q-utgJI[/MEDIA][/B]

Benny opened a bank account. He deposited $92.50 into his account every month for 10 months. He used $36.50 every month to pay for art lessons. After 10 months, he used 1/2 of the total money left in his account to go to a summer camp for artists. What is the total amount of money Benny spent to go to the summer camp? If Benny deposits $92.50 every month and withdraws $36.50 every month, his net deposit each month is: 92.50 - 36.50 = 56 Benny does this for 10 months, so his balance after 10 months is: 56 * 10 = 560 Half of this is: 560/2 = [B]280[/B]

Beverly has $50 to spend at an amusement park. She plans to spend $10 for food, and $15 for admission to the park. Each ride costs $1.50 to ride. Write an inequality to represent the possible number of rides she can ride? First, we subtract the food and admission cost from Beverly's starting balance of $50: Cost available for rides = Starting Balance - Food - Admission Cost available for rides = 50 - 10 - 15 Cost available for rides = 25 Now we set up an inequality for the number of rides (r) that Beverly can ride with the remaining balance: 1.50r <= 25 To solve for r, we [URL='https://www.mathcelebrity.com/interval-notation-calculator.php?num=1.50r%3C%3D25&pl=Show+Interval+Notation']type this inequality into our search engine[/URL] and we get: [B]r <=[/B] [B]16.67[/B]

blair’s bank account was overdrawn by $40. she spent $30 at the grocery store. what is the balance in her account now? The word [I]overdrawn[/I] means a negative balance. So we start with: -40 Spending 30 at the grocery store means we subtract 30 from our initial balance: -40 - 30 = [B]-70 or $70 overdrawn[/B]

Brad has $40 in a savings account. The interest rate is 5%, compounded annually. To the nearest cent, how much will he have in 3 years? [URL='https://www.mathcelebrity.com/compoundint.php?bal=40&nval=3&int=5&pl=Annually']Using our balance with interest calculator[/URL], we get [B]$46.31[/B].

Brenda invests $1535 in a savings account with a fixed annual interest rate of 3% compounded continuously. What will the account balance be after 8 years Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=1535&int=3&t=8&pl=Continuous+Interest']continuous interest balance calculator[/URL], we get: [B]1,951.37 [MEDIA=youtube]vbYV6SYXtvs[/MEDIA][/B]

Bridget deposited $4500 at 6 percent simple interest. How much money was in the account at the end of three years? Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=4500&int=6&t=3&pl=Simple+Interest']simple interest balance calculator[/URL], we get: $[B]5,310[/B]

Calculate the value of an investment of $15,000 at 6% interest after 7 years. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=15000&nval=7&int=6.5&pl=Annually']balance calculator[/URL], we get; [B]23,309.80[/B]

Catherine has $400 in her checking account. She writes a check for $600. What is the balance in her account? Writing a check decreases the bank balance. So we have: $400 - $600 = [B]-$200[/B]

Charlie has $2700 in his bank account. He spends $150 a week. How many weeks will have passed when Charlie has $600 in his bank account? Let w be the weeks that pass. We have the following equation for Charlie's balance: 2700 - 150w = 600 To solve for w, we [URL='https://www.mathcelebrity.com/1unk.php?num=2700-150w%3D600&pl=Solve']type this equation into our math engine[/URL] and we get: w = [B]14[/B]

Christopher has $25 000 to invest. He finds a bank who will pay an interest rate of 5.65% p.a compounded annually. What will the total balance be after 6 years? Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=25000&nval=6&int=5.65&pl=Annually']compound interest balance calculator[/URL], we get: [B]34,766.18[/B]

Cody invests $4,734 in a retirement account with a fixed annual interest rate of 4% compounded continuously. What will the account balance be after 19 years? Using our c[URL='http://www.mathcelebrity.com/simpint.php?av=&p=4734&int=4&t=19&pl=Continuous+Interest']ontinuous interest compounding calculator[/URL], we get: [B]10,122.60[/B]

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Dave has a savings account that pays interest at 3 1/2% per year. His opening balance for May was $1374.67. He did not deposit or withdraw money during the month. The interest is calculated daily. How much interest did the account earn in May? First, determine n, which is 31, since May has 31 days. We use our [URL='http://www.mathcelebrity.com/compoundint.php?bal=1374.67&nval=31&int=3.5&pl=Daily']compound interest balance calculator[/URL] to get: [B]1,378.76[/B]

David has b dollars in his bank account; Claire has three times as much money as David. The sum of their money is $240. How much money does Claire have? David has b Claire has 3b since three times as much means we multiply b by 3 The sum of their money is found by adding David's bank balance to Claire's bank balance to get the equation: 3b + b = 240 To solve for b, [URL='https://www.mathcelebrity.com/1unk.php?num=3b%2Bb%3D240&pl=Solve']we type this equation into our search engine[/URL] and we get: b = 60 So David has 60 dollars in his bank account. Therefore, Claire has: 3(60) = [B]180[/B]

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Deon opened his account starting with $650 and he is going to take out $40 per month. Mai opened up her account with a starting amount of $850 and is going to take out $65 per month. When would the two accounts have the same amount of money? We set up a balance equation B(m) where m is the number of months. [U]Set up Deon's Balance equation:[/U] Withdrawals mean we subtract from our current balance B(m) = Starting Balance - Withdrawal Amount * m B(m) = 650 - 40m [U]Set up Mai's Balance equation:[/U] Withdrawals mean we subtract from our current balance B(m) = Starting Balance - Withdrawal Amount * m B(m) = 850 - 65m When the two accounts have the same amount of money, we can set both balance equations equal to each other and solve for m: 650 - 40m = 850 - 65m Solve for [I]m[/I] in the equation 650 - 40m = 850 - 65m [SIZE=5][B]Step 1: Group variables:[/B][/SIZE] We need to group our variables -40m and -65m. To do that, we add 65m to both sides -40m + 650 + 65m = -65m + 850 + 65m [SIZE=5][B]Step 2: Cancel -65m on the right side:[/B][/SIZE] 25m + 650 = 850 [SIZE=5][B]Step 3: Group constants:[/B][/SIZE] We need to group our constants 650 and 850. To do that, we subtract 650 from both sides 25m + 650 - 650 = 850 - 650 [SIZE=5][B]Step 4: Cancel 650 on the left side:[/B][/SIZE] 25m = 200 [SIZE=5][B]Step 5: Divide each side of the equation by 25[/B][/SIZE] 25m/25 = 200/25 m = [B]8[/B]

Dick invested $9538 in an account at 10% compounded annually. Calculate the total investment after 10 years. Round your answer to the nearest penny if necessary. Annual compounding means we don't need to make adjustments to interest rate per compounding period. [URL='https://www.mathcelebrity.com/compoundint.php?bal=9538&nval=10&int=10&pl=Annually']Using our compound interest calculator[/URL], we get our new balance after 10 years of: [B]$24,739.12[/B]

Free Double Declining Balance Depreciation Calculator - Calculates Depreciation and Book Value using the Double Declining Balance Depreciation Method.

During your first year on the job, you deposit $2000 in an account that pays 8.5%, compounded continuously. What will be your balance after 35 years? [URL='https://www.mathcelebrity.com/simpint.php?av=&p=2000&int=8.5&t=35&pl=Continuous+Interest']Using our continuous compound balance calculator[/URL], we get a balance of [B]$39,179.25.[/B]

Emil bought a camera for $268.26, including tax. He made a down payment of $12.00 and paid the balance in 6 equal monthly payments. What was Emil’s monthly payment for this camera? Calculate remaining balance 268.26 - 12 = 256.26 Determine monthly payment: 256.26/6 = [B]21.36[/B]

Ethan has $9079 in his retirement account, and Kurt has $9259 in his. Ethan is adding $19per day, whereas Kurt is contributing $1 per day. Eventually, the two accounts will contain the same amount. What balance will each account have? How long will that take? Set up account equations A(d) where d is the number of days since time 0 for each account. Ethan A(d): 9079 + 19d Kurt A(d): 9259 + d The problems asks for when they are equal, and how much money they have in them. So set each account equation equal to each other: 9079 + 19d = 9259 + d [URL='https://www.mathcelebrity.com/1unk.php?num=9079%2B19d%3D9259%2Bd&pl=Solve']Typing this equation into our search engine[/URL], we get [B]d = 10[/B]. So in 10 days, both accounts will have equal amounts in them. Now, pick one of the account equations, either Ethan or Kurt, and plug in d = 10. Let's choose Kurt's since we have a simpler equation: A(10) = 9259 + 10 A(10) = $[B]9,269 [/B] After 10 days, both accounts have $9,269 in them.

Find the balance if $5000 is invested in an account paying 4.5% interest compounded continuously for 21 years Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=5000&int=4.5&t=21&pl=Continuous+Interest']continuous compounding interest calculator[/URL], we get: [B]$12,864.07[/B]

Find the final amount of money in an account if $ 3,800 is deposited at 8% interest compounded annually and the money is left for 6 years Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=3800&nval=6&int=8&pl=Annually']compound interest with balance calculator[/URL], we get: [B]$6,030.12[/B]

Find the future value and interest earned if $8806.54 is invested for 9 years at 6% compounded (a) semiannually and (b) continuously a) 14,992.54 using our [URL='http://www.mathcelebrity.com/compoundint.php?bal=8806.54&nval=18&int=6&pl=Semi-Annually']balance with interest calculator[/URL] b) 15112.08 using our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=8806.54&int=6&t=9&pl=Continuous+Interest']continuous interest balance calculator[/URL]

find the value of $20000 invested for 7 years at an annual interest rate of 2.55% compounded continuously Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=200000&int=2.55&t=7&pl=Continuous+Interest']compound continuous interest with balance calculator[/URL] we get: [B]239.084.58[/B]

Following the birth of triplets, the grandparents deposit $30,000 in a college trust fund that earns 4.5% interest, compounded quarterly. How much will be in the account after 18 years? 18 years = 18 * 4 = 72 quarters. Using our [URL='http://www.mathcelebrity.com/compoundint.php?bal=30000&nval=72&int=4.5&pl=Quarterly']compound interest balance calculator[/URL], we have: [B]$67,132.95[/B]

Hannah invested $540 in an account paying an interest rate of 4.7% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 18 years? [URL='https://www.mathcelebrity.com/simpint.php?av=&p=540&int=4.7&t=18&pl=Continuous+Interest']Using our compound interest balance calculator[/URL], we get: [B]$1,258.37[/B]

harley had $500 in his bank account at the beginning of the year. he spends $20 each week on food, clothing, and movie tickets. he wants to have more than $100 at the end of summer to make sure he has enough to purchase some new shoes before school starts. how many weeks, w, can harley withdraw money from his savings account and still have more than $100 to buy new shoes? Let the number of weeks be w. Harley needs $100 (or more) for shoes. We have the balance in Harley's account as: 500 - 20w >= 100 To solve this inequality for w, we [URL='https://www.mathcelebrity.com/1unk.php?num=500-20w%3E%3D100&pl=Solve']type it in our search engine[/URL] and we get: [B]w <= 20[/B]

How much would you need to deposit in an account now in order to have $6000 in the account in 10 years? Assume the account earns 6% interest compounded monthly. We start with a balance of B. We want to know: B(1.06)^10 = 6000 B(1.79084769654) = 6000 Divide each side of the equation by 1.79084769654 to solve for B B = [B]3,350.37[/B]

How much would you need to deposit in an account now in order to have $6000 in the account in 15 years? Assume the account earns 8% interest compounded monthly. 8% compounded monthly = 8/12 = 0.6667% per month. 15 years = 15*12 = 180 months We want to know an initial balance B such that: B(1.00667)^180 = $6,000 3.306921B = $6,000 Divide each side by 3.306921 [B]B = $1,814.38[/B]

I have $36 dollars and it goes up by 3 every day how much money would I have after 500 days We have a balance function B(d) where d is the number of days passed since we first had $36: B(d) = 3d + 36 The problem asks for B(500): B(500) = 3(500) + 36 B(500) = 1500 + 36 B(500) = [B]1536[/B]

I have $789 in the bank and make 1% interest a month. How much money do I have at the end of 6 months? Our balance is found using our compound interest formula: New Balance = Starting Balance * (1 + i/100)^t With I = 1% and t = 6, we have: New Balance = 789 * (1 + 1/100)^6 New Balance = 789 * (1.01)^6 New Balance = 789 * 1.0615201506 New Balance = [B]837.54[/B]

If $9000 grows to $9720 in 2 years find the simple interest rate. Simple interest formula is Initial Balance * (1 + tn) = Current Balance We have [LIST] [*]Initial Balance = 9000 [*]Current Balance = 9720 [*]n = 2 [/LIST] Plugging in these values, we get: 9000 * (1 + 2t) = 9720 Divide each side by 9000 1 + 2t = 1.08 Subtract 1 from each sdie 2t = 0.08 Divide each side by 2 t = [B]0.04 or 4%[/B]

If 3000 is invested at an annual interest rate of 5% and compounded annually, find the balance after 2 years. Use our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=3000&int=5&t=2&pl=Compound+Interest']compound interest calculator[/URL], we get: Balance = [B]$3,307.50[/B]

If a person invests $360 In an account that pays 8% interests compounded annually, find the balance after 5 years [B]$528.95[/B] per our [URL='http://www.mathcelebrity.com/intbal.php?startbal=360&intrate=8&bstart=1%2F1%2F2000&bend=1%2F1%2F2005&pl=Annual+Credit']balance calculator[/URL].

If you buy a computer directly from the manufacturer for $3,509 and agree to repay it in 36 equal installments at 1.73% interest per month on the unpaid balance, how much are your monthly payments? How much total interest will be paid? [U]Determine the monthly payment[/U] The monthly payment is [B]$114.87[/B] using our [URL='http://www.mathcelebrity.com/annimmpv.php?pv=3059&av=&pmt=&n=36&i=1.73&check1=1&pl=Calculate']annuity calculator[/URL] [U]Determine the total payments made[/U] Total payment is 36 times $114.87 = $4,135.37 [U]Now determine the total interest paid[/U] Take the total payments of $4,135.37 and subtract the original loan of $3,059 to get interest paid of [B]$1,076.37[/B]

If you have $272, and you spend $17 each day, how long would it be until you had no money left? Let d be the number of days. We have a balance expression of: 272 - 17d We want to know when the balance is 0, so we set 272 - 17d equal to 0. 272 - 17d = 0 To solve for d, we [URL='http://272 - 17d = 0']type this equation into our search engine[/URL] and we get: d = [B]16[/B]

Jennifer added $120 to her savings account during July. If this brought her balance to $700, how much has she saved previously? We have a starting balance s. We're given: s + 120 = 700 To solve this equation for s, we [URL='https://www.mathcelebrity.com/1unk.php?num=s%2B120%3D700&pl=Solve']type it in our search engine[/URL] and we get: s = [B]580[/B]

Jenny added $150 to her savings account in July. At the end if the month she had $500. How much did she start with? Let the starting balance be s. A deposit means we added 150 to s to get 500. We set up this equation below: s + 150 = 500 To solve for s, we [URL='https://www.mathcelebrity.com/1unk.php?num=s%2B150%3D500&pl=Solve']type this equation into our search engine[/URL] and we get: s = 3[B]50[/B]

Jenny has $1200 and is spending $40 per week. Kelsey has $120 and is saving $50 a week. In how many weeks will Jenny and Kelsey have the same amount of money? Jenny: Let w be the number of weeks. Spending means we subtract, so we set up a balance equation B(w): B(w) = 1200 - 40w Kelsey: Let w be the number of weeks. Saving means we add, so we set up a balance equation B(w): B(w) = 120 + 50w When they have the same amount of money, we set the balance equations equal to each other: 1200 - 40w = 120 + 50w To solve for w, we [URL='https://www.mathcelebrity.com/1unk.php?num=1200-40w%3D120%2B50w&pl=Solve']type this equation into our search engine[/URL] and we get: w = [B]12[/B]

Jenny has $40 in her checking account. If she writes a check for $19 find her new account balance Writing a check means we take out of the account, so we subtract: Balance = $40 - $19 Balance = [B]$21[/B]

Jessie invests $3345 in the stock market. Over the 3 years she has this invested she gets an average return of 7.8%. How much will her investment be worth after the 3 years? 7.8% = 0.078, so we use our compound interest formula to find our balance after 3 years. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=3345&nval=3+&int=7.8&pl=Annually']compound interest balance calculator[/URL], we get: [B]$4,190.37[/B]

Jocelyn invested $3,700 in an account paying an interest rate of 1.5% compounded continuously. Assuming no deposits or withdrawals are made, how much money would be in the account after 6 years? Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=3700&int=1.5&t=6&pl=Continuous+Interest']continuous interest with balance calculator[/URL], we get: [B]$4,048.44[/B]

Joe opens a bank account that starts with $20 and deposits $10 each week. Bria has a different account that starts with $1000 but withdraws $15 each week. When will Joe and Bria have the same amount of money? Let w be the number of weeks. Deposits mean we add money and withdrawals mean we subtract money. [U]Joe's Balance function B(w) where w is the number of weeks:[/U] 20 + 10w [U]Bria's Balance function B(w) where w is the number of weeks:[/U] 1000 - 15w [U]The problem asks for when both balances will be the same. So we set them equal to each other and solve for w:[/U] 20 + 10w = 1000 - 15w To solve for w, we [URL='https://www.mathcelebrity.com/1unk.php?num=20%2B10w%3D1000-15w&pl=Solve']type this equation into our search engine[/URL] and we get: w = 39.2 We round up to full week and get: w = [B]40[/B]

Joey puts $1,000.00 into an account to use for school expenses. The account earns 12% interest, compounded annually. How much will be in the account after 6 years? Using our [URL='http://www.mathcelebrity.com/compoundint.php?bal=1000&nval=6&int=12&pl=Annually']balance calculator[/URL], we get [B]$1,973.82[/B]

Joey withdrew $125 from his savings account. After the withdrawal, his balance was $785. How much was in his account initially? [U]Withdrawal means he took money out, which means his initial balance is found by adding back the withdrawal:[/U] Initial Balance = Current Balance + Withdrawal Initial Balance = 785 + 125 Initial Balance = [B]910[/B]

Julio had $20 in his account. He made two withdrawals of $15 and $25, and then he deposits $28. What is his account balance now? Note: Balances add and Withdrawals subtract. So we have: 20 - 15 - 25 + 28 [B]8[/B]

Karleys bank account was negative $12.14. she then deposited $21.63. What was her account balance negative 12.14 can be written as -12.14 She then deposited 21.63 which means we add 21.63 to her bank account balance: +21.63 Final account balance is: -12.14 + 21.63 = [B]$9.49[/B]

Keith has $500 in a savings account at the beginning of the summer. He wants to have at least $200 at the end of the summer. He withdraws $25 per week for food, clothing, and movie tickets. How many weeks can Keith withdraw money from his account. Keith's balance is written as B(w) where w is the number of weeks passed since the beginning of summer. We have: B(w) = 500 - 25w The problem asks for B(w) = 200, so we set 500 - 25w = 200. [URL='https://www.mathcelebrity.com/1unk.php?num=500-25w%3D200&pl=Solve']Typing 500 - 25w = 200 into the search engine[/URL], we get [B]w = 12[/B].

Keith has $500 in a savings account at the beginning of the summer. He wants to have at least $200 at the end of the summer. He withdraws $25 per week for food, clothing, and movie tickets. How many weeks can Keith withdraw money from his account Our account balance is: 500 - 25w where w is the number of weeks. We want to know the following for w: 500 - 25w = 200 [URL='https://www.mathcelebrity.com/1unk.php?num=500-25w%3D200&pl=Solve']Typing this equation into our search engine[/URL], we get: [B]w = 12[/B]

Kendra has $20 in a savings account. The interest rate is 10%, compounded annually. To the nearest cent, how much will she have in 2 years? Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=20&nval=2&int=10&pl=Annually']balance with interest calculator[/URL], we get [B]$24.20[/B].

Kevin borrowed $8000 at a rate of 7.5%, compounded monthly. Assuming he makes no payments, how much will he owe after 10 years? We want to find 8,000(1.075)^10 Using our [URL='http://www.mathcelebrity.com/compoundint.php?bal=8000&nval=10&int=7.5&pl=Annually']balance calculator[/URL], we get: [B]$16,488.25[/B]

Kunio puts $2,200.00 into savings bonds that pay a simple interest rate of 2.4%. How much money will the bonds be worth at the end of 4 years? Using our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=2200&int=2.4&t=4&pl=Simple+Interest']simple interest balance calculator[/URL], we his account will be worth [B]$2,411.20[/B] after 4 years

Last month, my saving account was balance was $1,000. since then, i spent x dollars from my saving Spending means reducing our balance, so we have a new balance of: [B]1000 - x[/B]

Lauren invested $340 in an account paying an interest rate of 5.8% compounded monthly. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 13 years? 13 years * 12 months per year = 156 compounding periods. [URL='https://www.mathcelebrity.com/compoundint.php?bal=340&nval=156&int=5.8&pl=Monthly']Using our compound interest balance calculator[/URL] with 156 for t, we get: $[B]721.35[/B]

Levi invested $630 in an account paying an interest rate of 4.6% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $970? 3,425 days, per the [URL='http://www.mathcelebrity.com/compoundint.php?bal=630&nval=3425&int=4.6&pl=Daily']balance calculator[/URL].

Lily put $750 in the bank if she earns 4% interest how much will she have in 5 years? We assume annual compounding, so [URL='https://www.mathcelebrity.com/compoundint.php?bal=750&nval=5&int=4&pl=Annually']using our balance with compound interest calculator[/URL], we have: [B]$912.49[/B]

Luke invested $140 at 6% simple interest for a period of 7 years. How much will his investment be worth after 7 years? Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=140&int=6&t=7&pl=Simple+Interest']simple interest balance calculator[/URL], we get [B]$198.80[/B].

Luke invested 120 at 5% simple interest for a period of 7 years. How much will investment be worth after years Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=120&int=5&t=7&pl=Simple+Interest']balance with simple interest calculator[/URL], we get: [B]162[/B]

Matt has $100 dollars in a checking account and deposits $20 per month. Ben has $80 in a checking account and deposits $30 per month. Will the accounts ever be the same balance? explain Set up the Balance account B(m), where m is the number of months since the deposit. Matt: B(m) = 20m + 100 Ben: B(m) = 80 + 30m Set both balance equations equal to each other to see if they ever have the same balance: 20m + 100 = 80 + 30m To solve for m, [URL='https://www.mathcelebrity.com/1unk.php?num=20m%2B100%3D80%2B30m&pl=Solve']we type this equation into our search engine[/URL] and we get: m = [B]2 So yes, they will have the same balance at m = 2[/B]

Matthew has $3,000 in a savings account that earns 10% interest per year. How much will he have in 3 years? Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=3000&nval=3&int=10&pl=Annually']compound interest with balance calculator[/URL], we get: [B]$3,993[/B]

Megan has $50 and saves $5.50 each week. Connor has $18.50 and saves $7.75 each week. After how many weeks will megan and connor have saved the same amount [U]Set up the Balance function B(w) where w is the number of weeks for Megan:[/U] B(w) = savings per week * w + Current Balance B(w) = 5.50w + 50 [U]Set up the Balance function B(w) where w is the number of weeks for Connor:[/U] B(w) = savings per week * w + Current Balance B(w) = 7.75w + 18.50 The problem asks for w when both B(w) are equal. So we set both B(w) equations equal to each other: 5.50w + 50 = 7.75w + 18.50 To solve this equation for w, we[URL='https://www.mathcelebrity.com/1unk.php?num=5.50w%2B50%3D7.75w%2B18.50&pl=Solve'] type it in our search engine[/URL] and we get: w = [B]14[/B]

Miguel has $80 in his bank and saves $2 a week. Jesse has $30 in his bank but saves $7 a week. In how many weeks will Jesse have more in his bank than Miguel? [U]Set up the Bank value B(w) for Miguel where w is the number of weeks[/U] B(w) = Savings Per week * w + Current Bank Balance B(w) = 2w + 80 [U]Set up the Bank value B(w) for Jesse where w is the number of weeks[/U] B(w) = Savings Per week * w + Current Bank Balance B(w) = 7w + 30 The problem asks when Jesse's account will be more than Miguel's. So we set up an inequality where: 7w + 30 > 2w + 80 To solve this inequality, we [URL='https://www.mathcelebrity.com/1unk.php?num=7w%2B30%3E2w%2B80&pl=Solve']type it in our search engine[/URL] and we get: [B]w > 10[/B]

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Nick opens a bank account with $50. Each week after, he deposits $15. In how many weeks will he have saved $500 Start with remaining balance: 500 - 50 = 450 Now figure out how many weeks, at 15 per week, to get 450 450/15 = [B]30 weeks[/B]

Oliver and Julia deposit $1,000.00 into a savings account which earns 14% interest compounded continuously. They want to use the money in the account to go on a trip in 3 years. How much will they be able to spend? Use the formula A=Pert, where A is the balance (final amount), P is the principal (starting amount), e is the base of natural logarithms (?2.71828), r is the interest rate expressed as a decimal, and t is the time in years. Round your answer to the nearest cent. [URL='https://www.mathcelebrity.com/simpint.php?av=&p=1000&int=3&t=14&pl=Continuous+Interest']Using our continuous interest calculator[/URL], we get: A = [B]1,521.96[/B]

On Melissa 6 birthday she gets a $2000 cd that earns 4% interest, compounded semiannual. If the cd matures on her 16th birthday, how much money will be available? Semiannual compounding means twice a year. With 16 - 6 = 10 years of compounding, we have: 10 x 2 = 20 semiannual periods. [URL='https://www.mathcelebrity.com/compoundint.php?bal=2000&nval=20&int=4&pl=Semi-Annually']Using our interest on balance calculator[/URL], we get: [B]$2,971.89[/B]

On the day of a child's birth, a deposit of $25,000 is made in a trust fund that pays 8.5% interest. Determine that balance in this account on the child's 25th birthday. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=25000&nval=25&int=8.5&pl=Annually']compound interest calculator[/URL], we get: [B]192,169.06 [/B]

Patricia has $425.82 in her checking account. How much does she have in her account after she makes a deposit of $120.75 and a withdrawal of $185.90? Start with $425.82 Deposits mean we [B]add[/B] money to the bank account: 425.82 + 120.75 = 546.57 Our new balance is 546.57. Withdrawals mean we [B]subtract[/B] money from the bank account: 546.57 - 185.90 = [B]360.67[/B]

principal $3000, actual interest rate 5.6%, time 3 years. what is the balance after 3 years [URL='https://www.mathcelebrity.com/compoundint.php?bal=3000&nval=3&int=5.6&pl=Annually']Using our compound interest calculator[/URL], we get a final balance of: [B]$3,532.75[/B]

Rachel borrowed 8000 at a rate of 10.5%, compounded monthly. Assuming she makes no payments, how much will she owe after 4 years? [U]Convert annual amounts to monthly[/U] 4 years = 12 * 4 = 48 months i = .105/12 = 0.00875 monthly [U]Build our accumulation function A(t) where t is the time in months[/U] A(48) = 8,000 * (1.00875)^48 A(48) = 8,000 * 1.5192 A(48) = [B]12,153.60 [/B] [URL='http://www.mathcelebrity.com/compoundint.php?bal=8000&nval=48&int=10.5&pl=Monthly']You can also use the balance calculator[/URL]

Rachel saved $200 and spends $25 each week. Roy just started saving $15 per week. At what week will they have the same amount? Let Rachel's account value R(w) where w is the number of weeks be: R(w) = 200 - 25w <-- We subtract -25w because she spends it every week, decreasing her balance. Let Roy's account value R(w) where w is the number of weeks be: R(w) = 15w Set them equal to each other: 200 - 25w = 15w To solve this equation, [URL='https://www.mathcelebrity.com/1unk.php?num=200-25w%3D15w&pl=Solve']we type it into our search engine[/URL] and get: [B]w = 5[/B]

Sarah has $250 in her account. She withdraws $25 per week. How many weeks can she withdraw money from her account and still have money left? Let w be the number of weeks. We have the following equation for the Balance after w weeks: B(w) = 250 - 25w [I]we subtract for withdrawals[/I] The ability to withdrawal money means have a positive or zero balance after withdrawal. So we set up the inequality below: 250 - 25w >= 0 To solve this inequality for w, we [URL='https://www.mathcelebrity.com/1unk.php?num=250-25w%3E%3D0&pl=Solve']type it in our search engine[/URL] and we get: w <= [B]10 So Sarah can withdrawal for up to 10 weeks[/B]

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Steve Has Overdrawn His Checking Account By $27. His Bank Charged Him $15 For An Overdraft Fee Then He Quickly Deposited $100. What Is His Current Balance? [LIST=1] [*]Overdrawn means money he doesn't have, so we go into the negative. Start with -27. [*]A bank charge of $15 means he goes in the negative another $15, so -27 - 15 = -42 [*]Then he deposits $100, so his balance is: $100 - 42 = [B]$58[/B] [/LIST]

Suppose that 25400 is invested in a certificate of a deposit for 3 years at 6% annual interest to be compounded semi annually how much interest will this investment earn? 3 years, compounded semi-annually, gives us 3 x 2 = 6 periods. [URL='https://www.mathcelebrity.com/compoundint.php?bal=25400&nval=6&int=6&pl=Semi-Annually']Using our balance with interest calculator[/URL], we get [B]$30,328.93[/B]

Suppose you deposit $1000 in a college fund that pays 7.2% interest compounded monthly. Find the account balance after 12 years. Round your answer to two decimal places. Using our[URL='https://www.mathcelebrity.com/compoundint.php?bal=1000&nval=12&int=7.2&pl=Monthly'] compound interest balance calculator[/URL], we get: [B]$1,074.42[/B]

Suppose you deposit $3000 in an account paying 2% annual interest, compounded continuously. Use A=Pert to find the balance after 5 years. A = $3,000 * e^0.02(5) A = $3,000 * e^0.1 A = $3,000 * 1.105171 A = [B]$3,315.51[/B]

Suppose you deposited $1200 in an account paying a compound interest rate of 6.25% quarterly, what would the account balance be after 10 years? [URL='https://www.mathcelebrity.com/compoundint.php?bal=1200&nval=40&int=6.25&pl=Quarterly']Using our compound interest with balance calculator[/URL], we get: [B]$2,231.09[/B]

Suppose you have $28.00 in your bank account and start saving $18.25 every week. Your friend has $161.00 in his account and is withdrawing $15 every week. When will your account balances be the same? Set up savings and withdrawal equations where w is the number of weeks. B(w) is the current balance [LIST] [*]You --> B(w) = 18.25w + 28 [*]Your friend --> B(w) = 161 - 15w [/LIST] Set them equal to each other 18.25w + 28 = 161 - 15w [URL='http://www.mathcelebrity.com/1unk.php?num=18.25w%2B28%3D161-15w&pl=Solve']Type that problem into the search engine[/URL], and you get [B]w = 4[/B].

the balance of an account after $40 withdrawal Let the balance be b. A withdrawal means a [U]reduction[/U][I] in the balance[/I]. So we have [B]b - 40[/B]

the initial deposit in a bank account was $6000 and it has an annual interest rate of 4.5%. Find the amount of money in the bank after 3 years Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=6000&nval=4.5&int=3&pl=Annually']balance and interest calculator[/URL], we get: [B]$6,853.60[/B]

Theodore invests $17,000 at 9% simple interest for 1 year. How much is in the account at the end of the 1 year period. Using our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=17000&int=9&t=1&pl=Simple+Interest']balance calculator with simple interest[/URL], we have: [B]18,530[/B]

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What is the simple interest accrued from a $500 investment at 7% interest for 5 years? Using our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=500&int=7&t=5&pl=Simple+Interest']simple interest balance calculator[/URL], we get $175 in simple interest earned.

You are given a choice of taking the simple interest on $100,000 invested for 5 years at a rate of 2% or the interest on $100,000 invested for 5 years at an interest rate of 2% compounded daily. Which investment earns the greater amount of interest? Give the difference between the amounts of interest earned by the two investments [URL='http://www.mathcelebrity.com/simpint.php?av=&p=100000&int=2&t=5&pl=Simple+Interest']Simple interest balance after 5 years[/URL] at 2% is $110,000. [URL='http://www.mathcelebrity.com/compoundint.php?bal=100000&nval=1825&int=2&pl=Daily']Daily compounded interest for 5 years[/URL] at 2% is 365 days per year * 5 years = 1,825 days = [B]$110,516.79 Compound interest earns more by $110,516.79 - $110,000 = $516.79[/B]

You deposit $150 into an account that yields 2% interest compounded quarterly. How much money will you have after 5 years? 2% per year compounded quarterly equals 2/4 = 0.5% per quarter. 5 years * 4 quarter per year = 20 quarters of compounding. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=150&nval=20&int=2&pl=Quarterly']balance calculator[/URL], we get [B]$165.73[/B] in the account after 20 years.

You deposit $1600 in a bank account. Find the balance after 3 years if the account pays 1.75% annual interest compounded monthly Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=1600&nval=36&int=1.75&pl=Monthly']compound interest calculator with 3 years = 36 months[/URL], we get: [B]1,686.18[/B]

You deposit $2000 in an account that earns simple interest at an annual rate of 4%. How long must you leave the money in the account to earn $500 in interest? The simple interest formula for the accumulated balance is: Prt = I We are given P = 2,000, r = 0.04, and I = 500. 2000(0.04)t = 500 80t = 500 Divide each side by 80 t = [B]6.25 years [MEDIA=youtube]Myz0FZgwZpk[/MEDIA][/B]

you deposit $2000 in an account that pays 3% annual interest. Find the balance after 10 years if the interest is compounded quarterly. Please give your answer to 2 decimal places. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=2000&nval=40&int=3&pl=Quarterly']compound interest calculator, with 10 * 4 = 40 quarters[/URL], we have: [B]$2,696.70[/B]

You deposit $750 in an account that earns 5% interest compounded quarterly. Show and solve a function that represents the balance after 4 years. The Accumulated Value (A) of a Balance B, with an interest rate per compounding period (i) for n periods is: A = B(1 + i)^n [U]Givens[/U] [LIST] [*]4 years of quarters = 4 * 4 = 16 quarters. So this is t. [*]Interest per quarter = 5/4 = 1.25% [*]Initial Balance (B) = 750. [/LIST] Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=750&nval=16&int=5&pl=Quarterly']compound balance interest calculator[/URL], we get the accumulated value A: [B]$914.92[/B]

You deposit $8500 in an account that pays 1.78% annual interest. Find the balance after 10 years when the interest is compounded monthly. 10 years * 12 months per year = 120 months. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=8500&nval=120&int=1.781&pl=Monthly']compound interest calculator[/URL], we get a balance of: [B]$10,155.69[/B]

You have $110 saved in your bank account. You want to save $15 every week. Let x be the amount of weeks and y be the total amount saved. Savings mean we add to the bank balance, so we have: [B]y = 15x + 110[/B]

You have $140 in a savings account and save $10 per week. Your friend has $95 in a savings account and saves $19 per week. How many weeks will it take for you and your friend to have the same balance? [U]Set up the savings account S(w) for you where w is the number of weeks[/U] S(w) = 140 + 10w [U]Set up the savings account S(w) for your friend where w is the number of weeks[/U] S(w) = 95 + 19w The problem asks for the number of weeks (w) when the balances are the same. So set both equations equal to each other: 140 + 10w = 95 + 19w To solve this equation for w, [URL='https://www.mathcelebrity.com/1unk.php?num=140%2B10w%3D95%2B19w&pl=Solve']we type it in the search engine[/URL] and get: w = [B]5[/B]

You invest $1,300 in an account that has an annual interest rate of 5%, compounded annually. How much money will be in the account after 10 years? Using our [URL='http://www.mathcelebrity.com/compoundint.php?bal=1300&nval=10&int=5&pl=Annually']compound interest balance calculator[/URL], we get: [B]$2,117.56[/B]

You owe $25 to a friend. You have paid back $12 but asked for another $8. How much do you owe? You pay back 12, so your balance is: -25 + 12 = -13 or you owe 13 You ask for (Borrow) another $8 -13 - 8 = [B]-21 or you owe 21[/B]

Your friend deposits 9500$ in an investment account that earns 2.1% annual interest find the balance after 11 years when the interest is compounded quarterly 11 years * 4 quarters per year = 44 quarters Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=9500&nval=44&int=2.1&pl=Quarterly']compound interest with balance calculator[/URL], we have: [B]11,961.43[/B]

Your grandma gives you $10,000 to invest for college. You get an average interest rate of 5% each year. How much money will you have in 5 years? Using our [URL='http://www.mathcelebrity.com/compoundint.php?bal=10000&nval=5&int=5&pl=Annually']accumulated balance calculator[/URL], we get: [B]12,762.82[/B]

Zoey invested $230 in an account paying an interest rate of 6.3% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 12 years? Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=230&nval=4380&int=6.3&pl=Daily']compound interest calculator with 12*365 = 4380 for days,[/URL] we have a balance of: [B]$489.81[/B]