When will I be a millionaire?
Barry monthly sends 280 euros to the bank, which he deposits bear interest of 2.1% p. A. Calculate how many months Barry must save to save 1000000 euros. Inflation, interest rate changes, or bank failures are ignored.
Correct answer:
Tips for related online calculators
Our percentage calculator will help you quickly calculate various typical tasks with percentages.
You need to know the following knowledge to solve this word math problem:
- algebra
- exponential equation
- arithmetic
- division
- basic functions
- percentages
- logarithm
- reason
- numbers
- integers
- real numbers
Units of physical quantities:
Themes, topics:
Grade of the word problem:
Related math problems and questions:
- Inflation 42111
A client deposits 100,000 euros in XYZ bank for a term deposit with an interest rate of 4% pa (per annum). After six months, you went to get the money. How much did he have in his account with the described half-yearly interest? PS When you deposit money - Possibility 65535
The bank offers a term account with the possibility of early withdrawal with an interest rate of 1.85 percent pa. Milan put 2,500 euros on it on January 2. If he withdraws the money after eight months, how many euros will he get? - Interest 6047
Mr. Demikát took out a loan worth 5,000 euros from the bank with an interest rate of 12 percent. How many months will it repay if the monthly payment is 80 euros? - Deposit withdrawal
Paul deposited 1,750 euros in the bank at an interest rate of 2.60 percent. He wants to withdraw the money after 9 months. A) How much would he earn in interest? (withdrawal is free of charge.) B) How much will he receive if the interest is taxed at 19%?
- Annual interest If, after a year, at an annual interest rate of 3.8%, Mr. Slovak had 2,076 euros in his account, how many euros did he deposit in the bank?
- Investment of the year
At the beginning of the year, my father invested EUR 1,000 in the bank at an annual interest rate of 3%. How many euros will the bank credit him with the deposit after eight months? (compound interest - from financial mathematics) - Joy deposited
Joy deposited the sum of 50,000 in her bank account. After 5 months, she made another deposit of 125,000 and 6 months a lap before the withdrawal of 12,000 nairas. If the interest rate is 5% per annual, calculate how much she should have in her account.
