# Bank

Paul put 10000 in the bank for 6 years. Calculate how much you will have in the bank if he not pick earned interest or change deposit conditions. The annual interest rate is 3.5%, and the tax on interest is 10%.

Correct result:

x =  12045.2

#### Solution:

$q = 1+(3.5/100)\cdot (1-10/100) = 1.0315 \ \\ x = 10000 \cdot q^{ 6 } = 10000 \cdot 1.0315^{ 6 } = 12045.2$

We would be pleased if you find an error in the word problem, spelling mistakes, or inaccuracies and send it to us. Thank you!

## Next similar math problems:

• Savings
The depositor regularly wants to invest the same amount of money in the financial institution at the beginning of the year and wants to save 10,000 euros at the end of the tenth year. What amount should he deposit if the annual interest rate for the annua
• Exponential decay
A tank contains 55 liters of water. Water is flowing out at the rate of 7% per minute. How long does it take to drain the tank?
• Compound interest
Compound interest: Clara deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. Both money and interest remain deposited in the bank. How many CZK will be in the bank after 3 years?
• Profitable bank deposit 2012
Calculate the value of what money lose creditor with a deposit € 9500 for 4 years if the entire duration are interest 2.6% p.a. and tax on interest is 19% and annual inflation is 3.7% (Calculate what you will lose if you leave money lying idle at negative
• Here is
Here is a data set (n=117) that has been sorted. 10.4 12.2 14.3 15.3 17.1 17.8 18 18.6 19.1 19.9 19.9 20.3 20.6 20.7 20.7 21.2 21.3 22 22.1 22.3 22.8 23 23 23.1 23.5 24.1 24.1 24.4 24.5 24.8 24.9 25.4 25.4 25.5 25.7 25.9 26 26.1 26.2 26.7 26.8 27.5 27.6 2
• Account operations
My savings of php 90,000 in a bank earns 6% interest in a year. If i will deposit additional php 10,000 at the end of 6 months, how much money will be left if i withdraw php 25,000 after a year?
• Interest
Calculate how much you earn for 10 years 43000 deposit if the interest rate is 1.3% and the interest period is a quarter.
• Deposit
If you deposit 719 euros the beginning of each year, how much money we have at 1.3% (compound) interest after 9 years?
• Savings
Suppose on your 21st birthday you begin making monthly payments of $500 into an account that pays 8% compounded monthly. If you continue the payments untill your 51st birthday (30 years), How much money will be in your account? How much of it is interest? • Present value A bank loans a family$90,000 at 4.5% annual interest rate to purchase a house. The family agrees to pay the loan off by making monthly payments over a 15 year period. How much should the monthly payment be in order to pay off the debt in 15 years?
• Annual pension
Calculate the amount of money generating an annual pension of EUR 1000, payable at the end of the year and for a period of 10 years, shall be inserted into the bank to account with an annual interest rate of 2%
• Loan
Apply for a $59000 loan, the loan repayment period is 8 years, the interest rate 7%. How much should I pay for every month (or every year if paid yearly). Example is for practise geometric progression and/or periodic payment for an annuity. • Retirement annuity How much will it cost to purchase a two-level retirement annuity that will pay$2000 at the end of every month for the first 10 years, and $3000 per month for the next 15 years? Assume that the payment represent a rate of return to the person receiving th • When will I be a millionaire? Barry monthly send 280 euros to the bank, which he deposits bear interest of 2.1% p. A. Calculate how many months must Barry save to save 1000000 euros? Inflation, interest rate changes, or bank failures ignore. • Future value Suppose you invested$1000 per quarter over a 15 years period. If money earns an anual rate of 6.5% compounded quarterly, how much would be available at the end of the time period? How much is the interest earn?
• Combined interest
Combined interest: Carol has deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. The money was put into the account 5.5.2016 and withdraw them all before Christmas 20.12.2016. How much money did she withdraw?
• Wood in the forest
The amount of wood in the forest was estimated at 6000 m3. How much wood will be in forest after 2 years if the annual growth of wood is 2.5% each year and logging 30 m3 each year?