The rate used in the table for calculating compound interest is found by?

The annual rate is used in the table for calculating compound interest.

Expert answered|AngelInDisguise|Points 3196|

Expert answered|AngelInDisguise|Points 3196|

Expert answered|AngelInDisguise|Points 3196|

Expert answered|AngelInDisguise|Points 3196|

Expert answered|AngelInDisguise|Points 3196|

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Asked 1/4/2012 1:27:26 AM

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If you want to save $25,000 for a down payment on a house and you have ten years to save this amount, how much would you need to save monthly to achieve this goal if the interest rate is 5% compounded monthly. **Weegy:** you need to save $208.33 monthly to achieve this goal if the interest rate is 5% compounded monthly.
**User:** show your work please **Weegy:** $218.75 is the answer. $25,000 x 5% = 1250+25000 = $26250 / 10 = 2625 / 12 = $218.75 **User:** What happens if you can increase your interest rate to 8%?
**Weegy:** monthly will also increase to $225 **User:** can you show your work **Weegy:** $25,000 x 8% = 2000. 25000+2000 = 27000 / 10yrs = 2700 / 12mos = $225 per month **User:** Thank you (More)

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Asked 12/29/2011 8:03:09 PM

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Accounting transactions are very important to a firm's operations. Which of the following activities would affect the firm's account balances? (Points : 3)
Buying and selling goods and services
Interviewing prospective employees
Understanding economic reports
Forecasting consumer demand
**Weegy:** The answer is D. the cost of production and consumer demand. **User:** . Which of the following is a primary area of concern for financial managers? (Points : 3)
Undercapitalization
Inability to recruit qualified workers
Poor advertising messages
Inadequate market control (More)

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Asked 12/31/2011 4:08:00 AM

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If you want to save $25,000 for a down payment on a house and you have ten years to save this amount, how much would you need to save monthly to achieve this goal if the interest rate is 5% compounded monthly. **Weegy:** you need to save $208.33 monthly to achieve this goal if the interest rate is 5% compounded monthly.
(More)

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Asked 12/29/2011 7:59:40 PM

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Come up with your own example of compound interest. **Weegy:** Interest Rate: 2% weekly
Starting Balance: $128
Time Passed: 7 weeks
How much interest has accrued if calculated as compound interest?
What is the new total balance? Interest: $19
Total balance: 147 *****Solution
Compound Interest: Total Balance [ = P(1 + R)T
P = principle = starting balance = $128
R = interest rate = 2%
T = time = 7 years
Total balance = principle × (1 + interest rate)time = 128 × (1 + (2 / 100))7 = $147
Interest accrued = total balance - starting balance = $147 - $128 = $19 ] (More)

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Asked 12/29/2011 7:52:18 PM

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You have been asked by your friend to describe this topic. Your friend knows very little about math, but learns well with pictures and analogies. Come up with a creative way to explain the concept of "compound interest" to your friend. **Weegy:** Tell your friend to imagine being in school. Then imagine you have been disciplined by the principal for behaving unruly in school. Then tell him to that school is difficult enough so being suspended adds to the equation. Hope this helps. **User:** Come up with your own example of compound interest different than the one in question two. **Weegy:** Interest Rate: 6% daily
Starting Balance: $188
Time Passed: 8 days
How much interest has accrued if calculated as compound interest?
What is the new total balance?
Interest: $112
Total balance: $300 ***Solution
Compound Interest: Total Balance = [ P(1 + R)T
P = principle = starting balance = $188
R = interest rate = 6%
T = time = 8 years
Total balance = principle × (1 + interest rate)time = 188 × (1 + (6 / 100))8 = $300
Interest accrued = total balance - starting balance = $300 - $188 = $112 ] (More)

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Asked 12/29/2011 7:46:51 PM

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