Deposit interest calculator compounded daily
[DOC File]Math of Finance - Highline College
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compounded monthly . compounded daily (365 days per year) compounded every hour. compounded continuously. 4. If the future value of an investment in 30 years is $150,000, what was the present value, assuming the investment was compounded daily at 5.5% yearly interest. 5. You just inherited a large sum of money.
[DOC File]Time Value of Money - University of Connecticut
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k. Suppose on January 1 you deposit $100 in an account that pays a nominal, or quoted, interest rate of 11.33463 percent, with interest added (compounded) daily. How much will you have in your account on October 1, or after 9 months? Answer: The daily periodic interest rate is …
[DOC File]SIMPLE INTEREST AND DISCOUNT - OpenStax CNX
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4) Thuy needs $1,850 in eight months for her college tuition. How much money should she deposit lump sum in an account paying 8.2% compounded monthly to achieve that goal? 5) Bank A pays 5% compounded daily, while Bank B pays 5.12% compounded monthly. Which bank pays more? Explain.
[DOC File]Introduction
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Interest compounded daily. No minimum requirement. Fine for early withdrawal is 6 months’ interest. 60-Month Certificate of Deposit at 5.4 % APY . FDIC insured up to $100,000. Interest compounded monthly. No minimum requirement. Fines for early withdrawal: If withdrawn within 6 months, the penalty is 3 months’ interest.
[DOC File]Simple Interest - University Of Maryland
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Calculate the annual effective rate on a loan that charges 9.3% interest per year, compounded daily. Assume that the loan is paid back in one lump sum at the end of the year. An account that quotes 10.0% interest per year, compounded daily, will yield slightly more than 10.0% interest per year due to the frequent compounding.
[DOC File]Module 4: Compound Interest and the Number e
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Module 4: Compound Interest and the Number e. Recall that an exponential function is a function of the form where a is the initial value and where r is the percent rate of change per units of x. EXAMPLE: Suppose you deposit $1000 in a savings account that gives 5% simple annual interest.
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