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If you deposit 10000 in a bank account that pays 10 percent interest annually how much would be deposited in your account after 5 years?
Wiki User
∙ 12y ago
$16,105.10 if compounded yearly,
$16,288.95 if compounded semi-annually,
$16,386.16 if compounded quarterly,
$16,453.09 if compounded monthly,
and $16,486.08 if compounded daily.
Wiki User
∙ 12y ago
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If you deposit 10000 in a bank account that pays 8 percent interest annually how much would be deposited in your account after 5 years?
Principle = 10,000/-Interest Rate = 0.08Tenor = 5 YEARSValue of deposit on maturity = Principle X (1+Interest Rate) ^ Tenor= 10,000 X (1+0.08)^5 = Rs 14,693.28
If you deposit 10000 in a bank account that pays 10 percent interest anually how much would be deposited in your account after 5 years?
5000
What if Jennifer deposited 10000 in an account that earns compound interest. The annual interest rate is 8 and the interest is compounded 2 times a year. The current balance in the account is 10?
No. If the account is earning interest the current amount should be greater than the initial deposit.
If you deposit 10000 in a bank account that pays 8 percent interest anually how much would be deposited in your account after 5 years?
(10000)(0.8)(5)/100 ~ 10400
What is the Difference between saving bank rate and Deposit rate?
deposit rate interest rate paid by the depository institution on the cash on deposit where as saving bank rate is interest paid by the banking institution on saving account holder which is calculated on daily basis and credited to customer account quaterly or semi annually.
What is the principal of a compound interest?
Adding the interest to the original deposit accelerates the deposited value.
What is the purpose of a savings?
A Savings Account is a type of account that is designed to promote savings among the general public. You can deposit and withdraw money from this account but at the same time the bank offers you an interest on the money deposited into the account.
You deposit 300 today 500 one year from now and 600 four years from now into an account that earns 8 percent compounded annually How much money will you have 7 years from now?
Assuming you deposit the money on the first day of each year you will have 2,124 from the 1,400 you'd deposited earning a total of 724 interest
How is lottery money deposited into a checking account?
direct deposit
When is the interest paid on Business Time Deposit Accounts?
The frequency with which you choose to receive your interest payment depends on the term of your Business Time Deposit Account. For terms of seven through 31 days, interest may be paid only at maturity. For terms of 32 days to one year, interest may be paid monthly, quarterly, semi-annually, annually, or at maturity. For terms greater than one year, interest must be paid at least annually and may be paid monthly, quarterly, or semi-annually.
How do you use deposited in sentences?
I deposited the cheque into my bank account. I made a deposit on the new T.V. set.
What is a NOW account?
A deposit account that pays interest.
