109 results

interest rate - the proportion of a loan that is charged as interest to the borrower or proportion of principal credit given to a depositor

$100 is invested in a bank account that gives an annual interest rate of 3%, compounded monthly. How

$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 hav

$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]

$13,000 is compounded semiannually at a rate of 11% for 20 years

$13,000 is compounded semiannually at a rate of 11% for 20 years
Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=13000&nval=40&int=11&pl=Semi-Annually']compound interest calculator with t = 20 years * 2 semi-annual periods per year = 40[/URL], we get:
[B]110,673.01[/B]

$300 for 13 years at 8% compounded semiannually. P=principle = original funds, r=rate, in percent, w

$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]

$500 is deposited into a savings account. The bank offers a 3.5% interest rate and the money is left

$500 is deposited into a savings account. The bank offers a 3.5% interest rate and the money is left in the account for 5 years. How much interest is earned in this situation?
Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=5000&nval=5&int=3.5&pl=Annually']compound interest calculator[/URL], we get interest earned as:
[B]938.43[/B]

$8000 are invested in a bank account at an interest rate of 10 percent per year. Find the amount in

$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

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 acc

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 accoun

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]

6700 dollars is placed in an account with an annual interest rate of 8%. How much will be in the acc

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%. show much will be in the ac

6700 dollars is placed in an account with an annual interest rate of 8%. show much will be in the account after 24 years, to the nearest cent ?
Using our compound interest calculator, we get:
[B]42,485.91
[MEDIA=youtube]0C25FB_4004[/MEDIA][/B]

6700 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the

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

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

7700 dollars is placed in an account with an annual interest rate of 5.75%. How much will be in the

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

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]

7900 dollars is placed in an account with an annual interest rate of 5.5%. How much will be in the a

7900 dollars is placed in an account with an annual interest rate of 5.5%. How much will be in the account after 11 years, to the nearest cent?
Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=7900&nval=11&int=5.5&pl=Annually']compound interest calculator[/URL], we get:
[B]14,236.53[/B]

8300 dollars is placed in an account with an annual interest rate of 6.5%. How much will be in the a

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 acc

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 credit plan charges interest rate of 36% compounded monthly. Find the effective rate.

A credit plan charges interest rate of 36% compounded monthly. Find the effective rate.
[U]Calculate Monthly Nominal Rate:[/U]
Monthly Nominal Rate = Annual Rate / 12 months per year
Monthly Nominal Rate = 36%/12
Monthly Nominal Rate = 3%
[U]Since there are 12 months in a year, we compound 12 times to get the effective rate below:[/U]
Effective Rate = (1 + Monthly Nominal Rate as a Decimal)^12 - 1
Since 3% = 0.03, we have:
Effective Rate = 100% * ((1 + 0.03)^12 - 1)
Effective Rate = 100% * ((1.03)^12 - 1)
Effective Rate = 100% * (1.42576088685 - 1)
Effective Rate = 100% * (0.42576088685)
Effective Rate = [B]42.58%[/B]

A man invested part of $15,000 at 12% and the remainder at 8%. If his annual income from the investm

A man invested part of $15,000 at 12% and the remainder at 8%. If his annual income from the investments is $1456, how much does he have invested at each rate?
Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=15000&i1=12&i2=8&itot=1456&pl=Calculate']split fund interest calculator[/URL], we get:
[LIST]
[*]Fund 1 Investment @ 12% = [B]6,400[/B]
[*]Fund 2 Investment @ 8% =[B] [B]8,600[/B][/B]
[/LIST]

A man invests $5,200, part at 4% and the balance at 3%. If his total income for the two investments

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

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 person invests $500 in an account that earns a nominal yearly rate of 4%. How much will this inves

A person invests $500 in an account that earns a nominal yearly rate of 4%. How much will this investment be worth in 10 years? If the interest was applied four times per year (known as quarterly compounding), calculate how much the investment would be worth after 10 years.
Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=500&nval=10&int=4&pl=Annually']compound interest calculator[/URL], $500 @ 4% for 10 years is:
$[B]740.12
[/B]
Using [URL='https://www.mathcelebrity.com/compoundint.php?bal=500&nval=40&int=4&pl=Quarterly']quarterly compounding in our compound interest calculator[/URL], we have 10 years * 4 quarters per year = 40 periods, so we have:
[B]$744.43[/B]

A person places $230 in an investment account earning an annual rate of 6.8%, compounded continuousl

A person places $230 in an investment account earning an annual rate of 6.8%, compounded continuously. Using the formula V = Pe^{rt}V=Pe^rt, where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 20 years
Using our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=230&int=6.8&t=20&pl=Continuous+Interest']continuous compounding calculator[/URL], we get:
V = [B]896.12[/B]

A person places $96300 in an investment account earning an annual rate of 2.8%, compounded continuou

A person places $96300 in an investment account earning an annual rate of 2.8%, compounded continuously. Using the formula V=PertV = Pe^{rt} V=Pe rt , where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 7 years.
Substituting our given numbers in where P = 96,300, r = 0.028, and t = 7, we get:
V = 96,300 * e^(0.028 * 7)
V = 96,300 * e^0.196
V = 96,300 * 1.21652690533
V = [B]$117,151.54[/B]

A retired couple invested $8000 in bonds. At the end of one year, they received an interest payment

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 sum of money doubles in 20 years on simple interest. It will get triple at the same rate in: a.

A sum of money doubles in 20 years on simple interest. It will get triple at the same rate in: a. 40 years b. 50 years c. 30 years d. 60 years e. 80 years
Simple interest formula if we start with 1 dollar and double to 2 dollars:
1(1 + i(20)) = 2
1 + 20i = 2
Subtract 1 from each side:
20i = 1
Divide each side by 20
i = 0.05
Now setup the same simple interest equation, but instead of 2, we use 3:
1(1 + 0.05(t)) = 3
1 + 0.05t = 3
Subtract 1 from each side:
0.05t = 2
Divide each side by 0.05
[B]t = 40 years[/B]

a total of $4000 is invested: part at 10% and the remainder at 15%. How much is invested at each rat

a total of $4000 is invested: part at 10% and the remainder at 15%. How much is invested at each rate if the annual interest is $430?
Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=4000&i1=10&i2=15&itot=430&pl=Calculate']split fund interest calculator[/URL], we get:
[LIST]
[*][B]3,400[/B] @ 10%
[*][B]600[/B] @ 15%
[/LIST]

A total of $4300 was invested, part of it at 6% interest and the remainder at 9%. If the total yearl

A total of $4300 was invested, part of it at 6% interest and the remainder at 9%. If the total yearly interest amounted to $315, how much was invested at each rate?
Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=4300&i1=6+&i2=9&itot=315&pl=Calculate']split fund interest calculator[/URL], we get:
[LIST]
[*][B]Fund 1: 2,400[/B]
[*][B]Fund 2: 1,900[/B]
[/LIST]

A total of $6,000 was invested, a portion at 6% and the remainder at 8%. The total amount of interes

A total of $6,000 was invested, a portion at 6% and the remainder at 8%. The total amount of interest earned was $450. How much was invested at each rate?
Using our split fund interest calculator, we get:
[LIST]
[*][B]1500 in 6% fund[/B]
[*][B]4500 in 8% fund[/B]
[/LIST]

A total of $7000 is invested: part at 7% and the remainder at 9%. How much is invested at each rate

A total of $7000 is invested: part at 7% and the remainder at 9%. How much is invested at each rate if the annual interest is $550?
Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=7000&i1=7&i2=9&itot=550&pl=Calculate']split fund interest calculator[/URL], we get:
[LIST]
[*][B]Fund 1: $4,000[/B]
[*][B]Fund 2: $3,000[/B]
[/LIST]

a total of 6000 is invested part at 8% and the remainder at 13%. how much is invested at each rate i

a total of 6000 is invested part at 8% and the remainder at 13%. how much is invested at each rate if the annual interest is 710
Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=6000&i1=8&i2=13&itot=710&pl=Calculate']split fund interest calculator[/URL], we get:
1,400
4,600

A total of 7000 is invested part at 7% and the reminder at 11% .how much is invested at each rate of

A total of 7000 is invested part at 7% and the reminder at 11% .how much is invested at each rate of the annual interest is 640
Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=7000&i1=7&i2=11&itot=640&pl=Calculate']split fund interest rate calculator[/URL], we get:
[LIST]
[*]Fund 1 = [B]3250[/B]
[*]Fund 2 = [B]3750[/B]
[/LIST]

Amy deposits 4000 into an account that pays simple interest at a rate of 6% per year. How much inter

Amy deposits 4000 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 4 years?
Using our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=4000&int=6&t=4&pl=Simple+Interest']simple interest calculator[/URL], we get an accumulated value of 4,960
Interest Paid = Accumulated Value - Principal
Interest Paid = 4960 - 4000
Interest Paid = [B]960[/B]

An executive invests $21,000, some at 8% and the rest at 7% annual interest. If he receives an annua

An executive invests $21,000, some at 8% and the rest at 7% annual interest. If he receives an annual return of $1,600, how much is invested at each rate?
Using our [URL='http://www.mathcelebrity.com/split-fund-interest-calculator.php?p=21000&i1=8&i2=7&itot=1600&pl=Calculate']split fund calculator[/URL], we get:
[LIST]
[*][B]Fund 1 = 13,000[/B]
[*][B]Fund 2 = 8,000[/B]
[/LIST]

An executive invests $22,000, some at 7% and the rest at 6% annual interest. If he receives an annua

An executive invests $22,000, some at 7% and the rest at 6% annual interest. If he receives an annual return of $1,420, how much is invested at each rate
Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=22000&i1=7&i2=6&itot=1420&pl=Calculate']split fund interest calculator[/URL], we get:
[LIST]
[*][B]10,000[/B] @ 7%
[*][B]12,000[/B] @ 6%
[/LIST]

An executive invests $23,000, some at 8% and some at 4% annual interest. If he receives an annual re

An executive invests $23,000, some at 8% and some at 4% annual interest. If he receives an annual return of $1,560, how much is invested at each rate?
Let x be the amount invested at 8% and y be the amount invested at 4%. We have two equations:
[LIST=1]
[*]x + y = 23,000
[*]0.08x + 0.04y = 1,560
[/LIST]
Using our [URL='http://www.mathcelebrity.com/simultaneous-equations.php?term1=x+%2B+y+%3D+23000&term2=0.08x+%2B+0.04y+%3D+1560&pl=Cramers+Method']system of equations calculator[/URL], we get:
[B]x = 16,000
y = 7,000[/B]

An executive invests $29,000, some at 8% and the rest at 6% annual interest. If he receives an annua

An executive invests $29,000, some at 8% and the rest at 6% annual interest. If he receives an annual return of $2,020, how much is invested at each rate?
Using our [URL='http://www.mathcelebrity.com/split-fund-interest-calculator.php?p=29000&i1=8&i2=6&itot=2020&pl=Calculate']split fund calculator[/URL], we get:
[LIST]
[*]Fund 1: $14,000
[*]Fund 2: $15,000
[/LIST]

An investment of $200 is now valued at $315. Assuming continuous compounding has occurred for 6 year

An investment of $200 is now valued at $315. Assuming continuous compounding has occurred for 6 years, approximately what interest rate is needed to be for this to be possible?
[URL='https://www.mathcelebrity.com/simpint.php?av=315&p=200&int=&t=6&pl=Continuous+Interest']Using our continuous compounding calculator solving for interest rate[/URL], we get:
I = [B]7.57%[/B]

Annuity that pays 6.6% compounded monthly. If $950 is deposited into this annuity every month, how m

Annuity that pays 6.6% compounded monthly. If $950 is deposited into this annuity every month, how much is in the account after 7 years? How much of this is interest?
Let's assume payments are made at the end of each month, since the problem does not state it. We have an annuity immediate formula. Interest rate per month is 6.6%/12 = .55%, or 0.0055. 7 years * 12 months per year gives us 84 deposits.
Using our [URL='http://www.mathcelebrity.com/annimmpv.php?pv=&av=&pmt=950&n=84&i=0.55&check1=1&pl=Calculate']present value of an annuity immediate calculator[/URL], we get the following:
[LIST=1]
[*]Accumulated Value After 7 years = [B]$101,086.45[/B]
[*]Principal = 79,800
[*]Interest Paid = (1) - (2) = 101,086.45 - 79,800 = [B]$21,286.45[/B]
[/LIST]

Approximations of Interest Rate

Free Approximations of Interest Rate Calculator - Interest Rate Approximations: Approximates a yield rate of interest based on 4 methods:

1) Max Yield denoted as i_{max}

2) Min Yield denoted as i_{min}

3) Constant Ratio denoted as i_{cr}

4) Direct Ratio denoted as i_{dr}

1) Max Yield denoted as i

2) Min Yield denoted as i

3) Constant Ratio denoted as i

4) Direct Ratio denoted as i

Arithmetic Perpetuities

Free Arithmetic Perpetuities Calculator - Solves for Present Value, First Payment, Arithmetic Payment, or Interest rate for an Arithmetic Perpetuity Immediate or Due

At what simple interest rate will 4500$ amount to 8000$ in 5 years?

At what simple interest rate will 4500$ amount to 8000$ in 5 years?
Simple Interest is written as 1 + it.
With t = 5, we have:
4500(1 + 5i) = 8000
Divide each side by 4500
1 + 5i = 1.77777778
Subtract 1 from each side:
5i = 0.77777778
Divide each side by 5
i = 0.15555
As a percentage we multiply by 100 to get [B]15.5%[/B]

Balance with Interest

Free Balance with Interest Calculator - Calculates the final account balance given a beginning balance, interest rate, and interest crediting period.

Brad has $40 in a savings account. The interest rate is 5%, compounded annually. To the nearest cen

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 continu

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]

Calculate the simple interest if the principal is 1500 at a rate of 7% for 3 years

Calculate the simple interest if the principal is 1500 at a rate of 7% for 3 years.
Using our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=1500&int=7&t=3&pl=Simple+Interest']simple interest calculator[/URL], the total interest earned over 3 years is [B]$315[/B].

Capitalized Cost and Periodic Charge

Free Capitalized Cost and Periodic Charge Calculator - Given an Asset Value (A), a Salvage Value (S) at time (N), a sinking fund rate of (j), an effective rate of interest (i), and maintenance expense (M), this calculator solves for periodic charge (H) and capitalized cost (K)

Charlene wants to invest $10,000 long enough for it to grow to at least $20000. The compound interes

Charlene wants to invest $10,000 long enough for it to grow to at least $20,000. The compound interest rate is 6% p.a. How many whole number of years does she need to invest the money for so that it grows to her $20,000 target?
We want 10,000(1.06)^n = 20,000.
But what the problem asks for is how long it will take money to double. We can use a shortcut called the Rule of 72. [URL='https://www.mathcelebrity.com/rule72.php?num=6&pl=Calculate']Using the Rule of 72 at 6%[/URL], we get [B]12 years[/B].

Christopher has $25 000 to invest. He finds a bank who will pay an interest rate of 5.65% p.a compou

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 conti

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]

Compound Interest Accumulated Balance

Free Compound Interest Accumulated Balance Calculator - Given an interest rate per annum compounded annually (i), semi-annually, quarterly, monthly, semi-monthly, weekly, and daily, this calculates the accumulated balance after (n) periods

Compound Interest and Annuity Table

Free Compound Interest and Annuity Table Calculator - Given an interest rate (i), number of periods to display (n), and number of digits to round (r), this calculator produces a compound interest table. It shows the values for the following 4 compound interest annuity functions from time 1 to (n) rounded to (r) digits:

v^{n}

d

(1 + i)^{n}

a_{n|}

s_{n|}

ä_{n|i}

s_{n|i}

Force of Interest δ^{n}

v

d

(1 + i)

a

s

ä

s

Force of Interest δ

d-i-v interest rate relationships

Free d-i-v interest rate relationships Calculator - Calculates d,i, or v based on 1 of the items entered.

Diana invested $3000 in a savings account for 3 years. She earned $450 in interest over that time pe

Diana invested $3000 in a savings account for 3 years. She earned $450 in interest over that time period. What interest rate did she earn? Use the formula I=Prt to find your answer, where I is interest, P is principal, r is rate and t is time. Enter your solution in decimal form rounded to the nearest hundredth. For example, if your solution is 12%, you would enter 0.12.
Our givens are:
[LIST]
[*]I = 450
[*]P = 3000
[*]t = 3
[*]We want r
[/LIST]
450 = 3000(r)(3)
450 = 9000r
Divide each side by 9000
[B]r = 0.05[/B]

Dick invested $9538 in an account at 10% compounded annually. Calculate the total investment after

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]

Dollar Weighted Interest Method

Free Dollar Weighted Interest Method Calculator - Solves for Interest Rate, Starting Asset Value, Ending Asset Value, and Expenses using the Dollar Weighted Method.

Dwayne wants to start a saving account at his local credit union. If he puts $8000 into a savings ac

Dwayne wants to start a saving account at his local credit union. If he puts $8000 into a savings account with an annual interest rate of 1.1%, how much simple interest will he have earned after 6 years?
Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=8000&int=1.1&t=6&pl=Simple+Interest']simple interest calculator[/URL], we get:
$528 of interest earned.

Effective Annual Yield Rate

Free Effective Annual Yield Rate Calculator - Figures out the effective annual yield rate of interest entered by compounding daily, weekly, semi-monthly, monthly, quarterly, semi-annually, and continuously.

find the value of $20000 invested for 7 years at an annual interest rate of 2.55% compounded continu

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]

Hannah invested $540 in an account paying an interest rate of 4.7% compounded continuously. Assuming

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]

How many years will it take for an initial investment of $40,000 to go to $60,000? Assuming a rate

How many years will it take for an initial investment of $40,000 to go to $60,000? Assuming a rate of interest at 18% compounded continuously
[URL='https://www.mathcelebrity.com/simpint.php?av=60000&p=40000&int=18&t=&pl=Continuous+Interest']Using our continuous interest calculator[/URL] and solving for n, we get:
n = [B]2.2526 years[/B]

How much money will there be in an account at the end of 10 years if $8000 is deposited at a 7.5% an

How much money will there be in an account at the end of 10 years if $8000 is deposited at a 7.5% annual rate that is compounded continuously?
Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=8000&int=7.5&t=10&pl=Continuous+Interest']continuous compounding calculator[/URL], we get [B]$16,936[/B].

I need help for this question. Can someone pls help me?

The simple interests earned on the sum of money for 4 years at 7.5% p.a. exceeds that on the same sum for 3.5 years at 8% p.a. by $90.
(a)Find the original sum of money.
(b)If the original sum of money accumulates to $4612.50 in 5 months at simple interest, find the interests rate per annum.

If $9000 grows to $9720 in 2 years find the simple interest rate.

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

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 5000 dollars is invested in a bank account at an interest rate of 10 per cent per year, find the

If 5000 dollars is invested in a bank account at an interest rate of 10 per cent per year, find the amount in the bank after 9 years if interest is compounded annually.
We assume the interest is compounded at the end of the year. Use the [URL='http://www.mathcelebrity.com/annimmpv.php?pv=&av=&pmt=5000&n=9&i=10&check1=1&pl=Calculate']annuity immediate formula[/URL]:
[B]67,897.39[/B]

If a person invests $360 In an account that pays 8% interests compounded annually, find the balance

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 an employee starts saving with $750 and increases his savings by 8% each month, what will be his

If an employee starts saving with $750 and increases his savings by 8% each month, what will be his total savings after 10 months?
Set up the savings function S(m), where m is the number of months and I is the interest rate growth:
S(m) = Initial Amount * (1 + i)^m
Plugging in our number at m = 10 months we get:
S(10) = 750 * (1 + 0.08)^10
S(10) = 750 * 1.08^10
S(10) = [B]$1,619.19[/B]

If you have $15,000 in an account with a 4.5% interest rate, compounded quarterly, how much money wi

If you have $15,000 in an account with a 4.5% interest rate, compounded quarterly, how much money will you have in 25 years?
[URL='https://www.mathcelebrity.com/compoundint.php?bal=15000&nval=100&int=4.5&pl=Quarterly']Using our compound interest calculator[/URL] with 25 years * 4 quarters per year = 100 periods of compounding, we get:
[B]$45,913.96[/B]

Inflation and Real Rate of Interest

Free Inflation and Real Rate of Interest Calculator - Calculates Real rate of Interest, Inflation, and nominal interest rate before inflation.

Isaac invested $5000 at two different rates, 4% and 6.5% if his total interest income was $250, how

Isaac invested $5000 at two different rates, 4% and 6.5% if his total interest income was $250, how much did he invest at each rate?
Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=5000&i1=4&i2=6.5&itot=250&pl=Calculate']split fund calculator[/URL], we have the following investments per fund:
Fund 1: [B]$3,000[/B]
Fund 2: [B]$2,000[/B]

Janice is looking to buy a vacation home for $185,000 near her favorite southern beach. The formula

Janice is looking to buy a vacation home for $185,000 near her favorite southern beach. The formula to compute a mortgage payment, M, is shown below, where P is the principal amount of the loan, r is the monthly interest rate, and N is the number of monthly payments. Janice's bank offers a monthly interest rate of 0.325% for a 12-year mortgage. How many monthly payments must Janice make?
12 years * 12 months per year = [B]144 mortgage payments[/B]

Jim invested $25,000 at an interest rate of 2% compounded anually. Approximately how much would Jim’

Jim invested $25,000 at an interest rate of 2% compounded anually. Approximately how much would Jim’s investment be worth after 2 years
Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=25000&nval=20&int=2.0&pl=Annually']compound interest calculator[/URL], we get:
[B]$37,148.68[/B]

Jocelyn invested $3,700 in an account paying an interest rate of 1.5% compounded continuously. Assum

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]

Kendra has $20 in a savings account. The interest rate is 10%, compounded annually. To the nearest

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].

Kunio puts $2,200.00 into savings bonds that pay a simple interest rate of 2.4%. How much money will

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

Larry Mitchell invested part of his $31,000 advance at 6% annual simple interest and the rest at 7%

Larry Mitchell invested part of his $31,000 advance at 6% annual simple interest and the rest at 7% annual simple interest. If the total yearly interest from both accounts was $2,090, find the amount invested at each rate.
Let x be the amount invested at 6%. Then 31000 - x is invested at 7%.
We have the following equation:
0.06x + (31000 - x)0.07 = 2090
Simplify:
0.06x + 2170 - 0.07x = 2090
Combine like Terms
-0.01x + 2170 = 2090
Subtract 2170 from each side
-0.01x = -80
Divide each side by -0.01
x = [B]8000 [/B]at 6%
Which means at 7%, we have:
31000 - 8000 = [B]23,000[/B]

Lauren invested $340 in an account paying an interest rate of 5.8% compounded monthly. Assuming no d

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 depos

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].

Mary invested $800, part at 9% per annum and the rest at 12% per annum. After 1 year, the total inte

Mary invested $800, part at 9% per annum and the rest at 12% per annum. After 1 year, the total interest earned was $79.50. How much did she invest at each rate?
Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=800&i1=9&i2=12&itot=79.50&pl=Calculate']split fund calculator[/URL], we get:
[LIST]
[*]Fund 1: $550
[*]Fund 2: $250
[/LIST]

Match each variable with a variable by placing the correct letter on each line.

Match each variable with a variable by placing the correct letter on each line.
a) principal
b) interest
c) interest rate
d) term/time
2 years
1.5%
$995
$29.85
[B]Principal is $995
Interest is $29.85 since 995 * .0.15 * 2 = 29.85
Interest rate is 1.5%
Term/time is 2 year[/B]s

Mortgage

Free Mortgage Calculator - Calculates the monthly payment, APY%, total value of payments, principal/interest/balance at a given time as well as an amortization table on a __standard__ or __interest only__ home or car loan with fixed interest rate. Handles amortized loans.

Mr. Elk is secretly a huge fan of Billie Eilish, and is saving up for front row seats. He puts $250

Mr. Elk is secretly a huge fan of Billie Eilish, and is saving up for front row seats. He puts $250 in the bank that has an interest rate of 8% compounded daily. After 4 years, Billie is finally hitting up NJ on her tour. How much money does Mr. Elk have in the bank? (rounded to the nearest cent) *
4 years = 365*4 days
4 years = 1,460 days.
Using this number of compounding periods, we [URL='https://www.mathcelebrity.com/compoundint.php?bal=250&nval=1460&int=8&pl=Daily']plug this into our compound interest calculator[/URL] to get:
[B]$344.27[/B]

Ms. Gonzales is investing $17000 at an annual interest rate of 6% compounded continuously. How much

Ms. Gonzales is investing $17000 at an annual interest rate of 6% compounded continuously. How much money will be in the account after 16 years? Round your answer to the nearest hundredth (two decimal places).
Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=17000&int=6&t=16&pl=Continuous+Interest']continuous interest calculator[/URL], we get:
[B]44,398.84[/B]

Nominal Yield

Free Nominal Yield Calculator - Given an effective annual rate of interest based on a compounding period, this determines the nominal yield.

Oliver and Julia deposit $1,000.00 into a savings account which earns 14% interest compounded contin

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]

Perpetuities

Free Perpetuities Calculator - Solves for Present Value, Payment, or Interest rate for a Perpetuity Immediate or a Perpetuity Due.

principal $3000, actual interest rate 5.6%, time 3 years. what is the balance after 3 years

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 deposits $6000 into an account that pays simple interest at a rate of 6% per year. How much i

Rachel deposits $6000 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 4 years?
Using our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=6000&int=6&t=4&pl=Simple+Interest']simple interest calculator[/URL], we get interest paid of [B]$1,440[/B]

Ravi deposits $500 into an account that pays simple interest at a rate of 4% per year. How much inte

Ravi deposits $500 into an account that pays simple interest at a rate of 4% per year. How much interest will he be paid in the first 4 years?
The formula for [U]interest[/U] using simple interest is:
I = Prt where P = Principal, r = interest, and t = time.
We're given P = 500, r =0.04, and t = 4. So we plug this in and get:
I = 500(0.04)(4)
I = [B]80[/B]

Reece made a deposite into an account that earns 8% simple interest. After 8 years reece has earned

Reece made a deposite into an account that earns 8% simple interest. After 8 years Reece has earned 400 dollars. How much was Reece's initial deposit?
Simple interest formula:
A = P(1 + it) where P is the amount of principal to be invested, i is the interest rate, t is the time, and A is the amount accumulated with interest.
Plugging in our numbers, we get:
400 = P(1 + 0.08(8))
400 = P(1 + 0.64)
400 = 1.64P
1.64P = 400
[URL='https://www.mathcelebrity.com/1unk.php?num=1.64p%3D400&pl=Solve']Typing this problem into our search engine[/URL], we get:
P = [B]$243.90[/B]

Sam invested $48,000, some at 6% interest and the rest at 10%. How much did he invest at each rate i

Sam invested $48,000, some at 6% interest and the rest at 10%. How much did he invest at each rate if he received $4,000 in interest in one year?
Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=48000&i1=6&i2=10&itot=4000&pl=Calculate']split fund interest calculator[/URL], we get:
[LIST]
[*]Fund 1 @ 6% = [B]$20,000[/B]
[*]Fund 2 @ 10% = [B]$28,000[/B]
[/LIST]

Simple Discount and Compound Discount

Free Simple Discount and Compound Discount Calculator - Given a principal value, interest rate, and time, this calculates the Accumulated Value using Simple Discount and Compound Discount

Split Fund Interest

Free Split Fund Interest Calculator - Given an initial principal amount, interest rate on Fund 1, interest rate on Fund 2, and a total interest paid, calculates the amount invested in each fund.

Sue has $25,000 to invest. She deposits some in stocks and the rest in annuities. If the stocks are

Sue has $25,000 to invest. She deposits some in stocks and the rest in annuities. If the stocks are at a rate of 6% and the annuities are at a rate of 3% and Sue wants to earn $1200 by the end of the year, find how much Sue deposited into each.
Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=25000&i1=6&i2=3&itot=1200&pl=Calculate']split fund interest calculator[/URL], we get:
[LIST]
[*][B]15,000 in stocks[/B]
[*][B]10,000 in annuities[/B]
[/LIST]

Suppose you deposited $1200 in an account paying a compound interest rate of 6.25% quarterly, what w

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 invest $1600 at an annual interest rate of 4.6% compounded continuously. How much will

Suppose you invest $1600 at an annual interest rate of 4.6% compounded continuously. How much will you have in the account after 4 years?
Using our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=1600&int=4.6&t=4&pl=Continuous+Interest']continuous compound calculator[/URL], we get $1,923.23

the initial deposit in a bank account was $6000 and it has an annual interest rate of 4.5%. Find the

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]

Time Weighted Interest Method

Free Time Weighted Interest Method Calculator - Solves for Interest Rate based on 2 annual asset value events other than beginning or ending value using the Time Weighted Method

Vendor Discount Effective Rate of Interest

Free Vendor Discount Effective Rate of Interest Calculator - Calculates the effective rate of interest earned from a vendor discount for a prepayment of a balance within a certain amount of days for a percentage discount

You are given a choice of taking the simple interest on $100,000 invested for 5 years at a rate of 2

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 borrowed $25 from your friend. You paid him back in full after 6 months. He charged $2 for inter

You borrowed $25 from your friend. You paid him back in full after 6 months. He charged $2 for interest. What was the annual simple interest rate that he charged you? Use the formula: I = Prt.
We have I = 2, P = 25, t = 0.5
2 = 25(r)0.5
Divide each side by 0.5
4 = 25r
Divide each side by 25
r = 4/25
[B]r = 0.16[/B]
As a percentage, this is [B]16%[/B]

You deposit $2000 in an account that earns simple interest at an annual rate of 4%. How long must yo

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 $750 in an account that earns 5% interest compounded quarterly. Show and solve a functio

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 invest $1,300 in an account that has an annual interest rate of 5%, compounded annually. How muc

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]

Your grandfather gave you $12,000 a a graduation present. You decided to do the responsible thing an

Your grandfather gave you $12,000 a a graduation present. You decided to do the responsible thing and invest it. Your bank has a interest rate of 6.5%. How much money will you have after 10 years if the interest is compounded monthly?
Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=12000&nval=120&int=6.5&pl=Monthly']compound interest calculator[/URL], we have 10 years * 12 months = 120 months.
[B]$22,946.21[/B]

Your grandma gives you $10,000 to invest for college. You get an average interest rate of 5% each ye

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 depos

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]