Question about Design Science MathPlayer

You have to say if simple or compound interest, and whether annual interest or some other period. Assuming compound interest annually, it is 3.78%, for the second case, earnings are $1483

Apr 21, 2014 | SoftMath Algebrator - Algebra Homework...

A little more than twenty (20) months.

In twenty months you'll have $24,775.42

In twenty months you'll have $24,775.42

Mar 16, 2014 | Texas Instruments Office Equipment &...

If 1288 is deposited yearly The Final Amount is:

34,399.33 USD

If 1288 is deposited only once The Final Amount is:

3,321.15 USD

34,399.33 USD

If 1288 is deposited only once The Final Amount is:

3,321.15 USD

Oct 11, 2013 | Vehicle Parts & Accessories

Taken from http://money.howstuffworks.com/personal-finance/budgeting/savings-accounts1.htm

Banks usually offer two types of savings accounts: a basic savings account, and a money market account.

· The basic savings account (sometimes called a passbook savings account) will usually have either no minimum balance requirement or a low one, but will offer a very low interest rate (meaning your money won't earn that much). In April 2004, the average interest rate at banks for basic savings accounts was less than one percent. A typical basic savings account lets you withdraw your money whenever you want.

· Money Market accounts usually pay more money in interest, but will typically require you to have more money in the account. You also may be limited to how many withdrawals you can make in a month. Sometimes, in addition to the withdrawals, you can also write up to the three checks on a money market account each month.

Banks usually offer two types of savings accounts: a basic savings account, and a money market account.

· The basic savings account (sometimes called a passbook savings account) will usually have either no minimum balance requirement or a low one, but will offer a very low interest rate (meaning your money won't earn that much). In April 2004, the average interest rate at banks for basic savings accounts was less than one percent. A typical basic savings account lets you withdraw your money whenever you want.

· Money Market accounts usually pay more money in interest, but will typically require you to have more money in the account. You also may be limited to how many withdrawals you can make in a month. Sometimes, in addition to the withdrawals, you can also write up to the three checks on a money market account each month.

Aug 14, 2013 | Finance

Compounded Interest is when the bank pays
you interest on the interest. For example, if your savings account earns interest of 1%, then each day of
that 1% of the amount of money you have in your savings account is added to
your total amount of money.

*Daily compounding = Principal (1 + interest rate/365)365 =
(daily compounded amount)*

Aug 14, 2013 | Finance

Yes, some banks limit the amounts of money that can be

deposited monthly or the amount of transactions that can be done through the account. Some, for example, offer unlimited deposits but limit the amounts of money that can be withdrawn monthly. Others require minimum and maximum amounts as prerequisites for opening the account.

deposited monthly or the amount of transactions that can be done through the account. Some, for example, offer unlimited deposits but limit the amounts of money that can be withdrawn monthly. Others require minimum and maximum amounts as prerequisites for opening the account.

Aug 14, 2013 | Finance

@ 6mo = 500 x 6/100 + 500 = 530

@12mo = 530 x 6/100 + 530 = 561.80

@ 18mo = 561.80 x 6/100 + 561.80 = 595.508 ~ 595.51 (rounded)

@12mo = 530 x 6/100 + 530 = 561.80

@ 18mo = 561.80 x 6/100 + 561.80 = 595.508 ~ 595.51 (rounded)

Jan 16, 2011 | Computers & Internet

Recurring deposit interest is calculation may vary depends on compounding period. You have to invest an amount every month interest will be calculated for the current holding in your recurring deposit account. And every compounding period interest amount will be added into holdings or available balance. You can calculate the Recurring deposit using this recurring deposit calculator

Mar 26, 2009 | Computers & Internet

The present value of any future monthly (?) stream of payments stretching some 24 years into the future takes into account the time value of money and depends on the interest rate assumed to apply for each month throughout those 24 years.

There are formulae to calc this for an equal monthly payment and a constant interest rate, over the term but for a variable interest rate you need a spreadsheet.

In the simple case of zero interest assumed throughout the term, present value = current principal balance, but for any positive interest rate, the total present value of the future payment stream is less than the current principal balance.

There are formulae to calc this for an equal monthly payment and a constant interest rate, over the term but for a variable interest rate you need a spreadsheet.

In the simple case of zero interest assumed throughout the term, present value = current principal balance, but for any positive interest rate, the total present value of the future payment stream is less than the current principal balance.

Oct 06, 2008 | Texas Instruments TI-30XA Calculator

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