The at 8.5%, the investment increases, every year, by a factor of 1 + 8.5/100, that is, by a factor of 1.085. The total amount of money you get at the end of five years, then, is 6400 x 1.085^5 (the "^" means "power"). If you subtract the initial capital from that, what remains is the interest earned.
It depends on how many times the interest is compounded in a year. If it compounded semi annually then the APR would be 4.841402
18% per annum
36%per annum
3.5% per annum
An interest rate as a percentage is the one flat rate you must pay. Interest rate per annum is a compound interest, determined every year that the loan (or whatever) has not been paid back. Say, if you owed me $100 with a 1% per annum interest rate. You have to pay me back $101. If you have not repaid the loan, the next year you would have to pay me an extra 1% of $101, and so on.
0.9938% per month, when compounded is equivalent to 12.6% annually.
If interest is 2.75% per annum and is compounded quarterly, then aninitial investment of $2,000 will amount to $2,630.58after 10 years.
P.C.P.A. stands for Percent Compounded Per Annum.
We still need to know how often the interest is compounded ... Weekly ? Daily ? Hourly ? What does "continuous" mean ?
It depends on how many times the interest is compounded in a year. If it compounded semi annually then the APR would be 4.841402
P.C.P.A. is the "Percent Compounded Per Annum." This measurement is used when trying to determine the compound interest for previous years.
Yes. Currently it is 8.6% per annum compounded annually
If the 3% is "simple" interest, then the $100 earns an extra $18 in 6 years. If the interest is compounded yearly, then it earns $19.41 extra. If the interest is compounded weekly, then it earns $19.72 extra.
Assuming simple interest, the formula is Interest = Principal x Time x Rate/100, in this case the interest would be 30% of the original investment. If the interest is compounded yearly the the formula is Principal x (1 + Rate/100)^Time so that the new total would be (1 + 0.1)^3 ie 1.331 times the original investment, a total of 33.1% interest.
It depends on whether the 4% interest is per annum or for 8 years altogether. Also, you have to see if it is a simple interest or compounded interest.
Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).
8.6% per annum compounded annually