Simple Interest
P = $500 r = 4% t = 6 years annually
Total Amount?
$632.66
A = ? P = $1,200 r = 1% n = 12 t = 3
$1,236.53
A = ? P = $3,000 r = 2% t = 10
$3,664.21
What will your total balance be after 10 years if you deposit $500 in an account with an interest rate of 2.5%?
$640.04
What will your total balance be after 10 years if you deposit $500 in an account with an interest rate of 2.5%, compounded semi-annually?
$641.02
How much will you have if you invest just $100 into a continuously compounded account at a rate of 1% for 18 years?
$119.72
How long will it take your loan of $1,000 to turn into $2,000 at a rate of 5%?
14 years
You take out a loan of $10,000 at an interest rate of 6.8%, compounded quarterly. If you pay it back over 5 years, how much will you pay back total?
$14,009.38
How much did you initially deposit 7 years ago if you now have $1,234 in a continuously compounded rate of 0.1%?
$1,225.39
What interest rate will make you $100 in interest on a deposit of $1,000 in 8 years?
1.2%
You now have $2,500 in your account that gets 2% compounded daily. How much did you put in when you deposited it three years ago?
$2,354.42
You have your money in a continuously compounded account with an interest rate of 1%. How long will it take $1,000 to turn into $1,010?
About 1 year.
How much interest will you make on an investment of $470 if you put it in an account at 1.2% interest for 5 years?
$28.88
You deposited $10,000 in lottery winnings into an account with an interest rate of 0.25%, compounded quarterly, and now you have $11,000. How long did it take?
About 38 years
Your banks computers go crazy, and on accident, your $800 turned into $1,600 in one day (1/365 of a year). The account calculates interest continuously. What amazing rate was it giving?
25,300%