Investment
If an investor deposits $2,000 on 1 January every year and the account guarantees 4% per annum, with interest calculated on 31 December each year, how much will be in the account at the end of the 10th year?
Final Answer:
Showing 1 comment:
Zak
In this question, they are asking how much will be in the account at the end of the 10th year which means we have to find the sum and not the tenth member of the series.
Tips for related online calculators
Our percentage calculator will help you quickly and easily solve a variety of common percentage-related problems.
Do you want to convert time units like minutes to seconds?
Do you want to convert time units like minutes to seconds?
You need to know the following knowledge to solve this word math problem:
algebrabasic operations and conceptsUnits of physical quantitiesthemes, topicsGrade of the word problem
Related math problems and questions:
- Deposit is pesos
Sally deposits Php.22,000 in her savings account. If the bank pays 1.5% interest per year, how much will she receive at the end of the year? - Simple interest
At what time will the sum be doubled at 5% per annum at simple interest? - Interest compounded annually
If you deposit $4500 at 5% annual interest compounded annually, how much money will be in the account after ten years? - Deposit account
How much money will be in the account after ten years if you deposit $4500 at a quarterly 5% annual interest compound? - Small interest 3
Thomas had a certain amount of money in his account, which earned him €64 in interest over a year at an annual interest rate of 2%. What would be the interest on the same amount if the annual interest rate were 3.5%? - Inflation and deposits
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 - Account operations My PHP 90,000 savings in a bank earns 6% interest in a year. If I deposit an 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?
