Question

If you deposit $10,000 into a financial institution today with a 3% annual interest rate, but...

If you deposit $10,000 into a financial institution today with a 3% annual interest rate, but interest is compounded continuously. How much would you have accumulated at the end of 3 years?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
You deposit $10,000 in a savings account where the interest rate is 3% compounded annually. At...
You deposit $10,000 in a savings account where the interest rate is 3% compounded annually. At the beginning of the 6th year, the bank raises its interest rate to 3.5%. How much will you have accumulated after 15 years?
Question No : 3 If you deposit 10 $ in an account, that pays 5% interest,...
Question No : 3 If you deposit 10 $ in an account, that pays 5% interest, compounded annually, how much you will have at the end of 10 years? 50 years and 100 years How much will be in account at the end of 5 years the amount deposited today is 10,000 and interest is 8% per year, compounded semiannually? How much would I have to deposit in an account today that pays 12% interest, compounded quarterly, so that I...
If you deposit $3,100 today into an account earning an annual rate of return of 7...
If you deposit $3,100 today into an account earning an annual rate of return of 7 percent, what would your account be worth in 30 years? If you deposit $5,000 today into an account earning an annual rate of return of 9%, in the thrid year how much interest would be earned?
If you deposit $100,000 today at 8 percent interest compounded quarterly, how much will you have...
If you deposit $100,000 today at 8 percent interest compounded quarterly, how much will you have accumulated after 5 years $67,297.13 $68,058.32 $146,932.74 $148,594.74
How much do you have to deposit today in order to allow 7 annual withdrawals, beginning...
How much do you have to deposit today in order to allow 7 annual withdrawals, beginning at the end of year 17, with a first withdrawal of $2123 and with subsequent withdrawals decreasing at the rate of 3% over the previous year’s withdrawal? Assume an interest rate of 9% compounded annually.
PART 2: FINANCE a) If you deposit $23,596.00 at 13.23% annual interest compounded quarterly, how much...
PART 2: FINANCE a) If you deposit $23,596.00 at 13.23% annual interest compounded quarterly, how much money will be in the account after 4 years? b) If you deposit $1036.00 into an account paying 5.46% annual interest compounded monthly, how many years until there is $19,912.00 in the account? c) What is the value today of receiving a single payment of $55,961.00 13 years if your required rate of return on this investment is 14.25% compounded semi-annually? d) If you...
You deposit $2000 in an account earning 3% interest compounded monthly How much will you have...
You deposit $2000 in an account earning 3% interest compounded monthly How much will you have in the account in 20 years? How much interest will you earn? You deposit $10,000 in an account earning 4% interest compounded monthly. How much will you have in the account in 25 years? How much interest will you earn?
"If you deposit $1400 per MONTH into an account that earns an ANNUAL nominal interest rate...
"If you deposit $1400 per MONTH into an account that earns an ANNUAL nominal interest rate of 11%, compounded monthly, how much money will you have in 10 years?"
If you deposit $5,000 today in an account earning an annual rate of return of 9%,...
If you deposit $5,000 today in an account earning an annual rate of return of 9%, in the third year how much interest would be earned? How much results from compounding of interest?
A. Suppose you invest $83736 today in an account that earns 13% interest annually. How much...
A. Suppose you invest $83736 today in an account that earns 13% interest annually. How much money will be in your account 7 years from today? B. What is the value today of single payment of $36665, 18 years from today if the value is discounted at a rate of 19%? C. How many years would it take an investment of $172 to grow to $18096 at an annual rate of return of 15%? D. How much money would you...