|
- A $1000 deposit is put into a savings account. Which of the following . . .
For example, if you compare a $1000 deposit at a 5% annual interest rate: Compounding annually yields $1407 10, while compounding semiannually, quarterly, or monthly yields greater amounts This illustrates how more frequent compounding benefits the account holder
- Solved: A $1000 deposit is put into a savings account. Which of . . . - Gauth
A Annually: The interest earned will be the lowest because the interest is compounded less frequently, resulting in lower overall interest earned over 7 years
- Please, someone help me! | Wyzant Ask An Expert
A $1000 deposit is put into a savings account Which of the following compounding frequencies will ensure lowest interest earned in 7 years? D Monthly the less frequent the compounding, the less total interest you will receive Still looking for help? Get the right answer, fast Get a free answer to a quick problem
- SOLVED: a 1000 deposit is put into a savings account . which of the . . .
Yes so the correct answer is annually Alright let me just explain why So when you have compound interest you will want the interest to be compounded as little time as possible Annual is less times than the others Okay so whether or not it's annual or whatever it's still gonna happen seven years Okay
- Solved Suppose you deposit $1000 into a savings account that - Chegg
Question: Suppose you deposit $1000 into a savings account that pays 8 percent a If the bank compounds interest annually, how much will you have in your account in 4 years? b What would your balance be in 4 years if the bank used quarterly compounding rather than annual compunding? c
- A $1000 deposit is put into a savings account. Which of the following . . .
The interest a $1000 deposit will earn in a savings account over 5 years depends on the rate at which it's compounded The more frequently the interest is compounded (i e , calculated and added to the balance), the higher the total interest will be at the end of the period
- Finance Unit 3 - Saving Flashcards | Quizlet
When a bank says their savings account earns 1% interest, that typically means you will earn 1% interest over what period of time Stanley deposits $1,000 into a savings account that pays 1% interest At the end of the first year, he's earned $10 in interest and there is $1,010 in the account
- a $1000 deposit is put into a savings account . which of the following . . .
The question is asking about the compounding frequency that will ensure the lowest interest earned over 7 years for a $1000 deposit in a savings account The correct answer is annually
|
|
|