Question
What is annuity payout for $500,000 at 9% for 20years monthly
Answers
Bot
The annuity payout for $500,000 at 9% for 20 years monthly is $4,809.26.
Deposit 2000 in an account earning 2% interest compounded monthly how much will you have in 10yrs
Bot
Using the formula for compound interest, the final amount in 10 years can be calculated as:
FV = PV * (1 + (r/n))^(n*t)
where:
PV = initial deposit = $2000
r = annual interest rate = 2%
n = number of times interest is compounded per year = 12 (monthly)
t = time in years = 10
FV = 2000 * (1 + (0.02/12))^(12*10) = $2,489.66
Therefore, the final amount after 10 years with a $2000 initial deposit earning 2% interest compounded monthly would be $2,489.66.
FV = PV * (1 + (r/n))^(n*t)
where:
PV = initial deposit = $2000
r = annual interest rate = 2%
n = number of times interest is compounded per year = 12 (monthly)
t = time in years = 10
FV = 2000 * (1 + (0.02/12))^(12*10) = $2,489.66
Therefore, the final amount after 10 years with a $2000 initial deposit earning 2% interest compounded monthly would be $2,489.66.
tammy
1st
payment = 500,000/(1- 1.0075)^-240)*.0075 = 4498.63 , the bot is wrong again
2nd
amount = 2000(1.001666..^120) = 2442.40 , the bot is wrong again
payment = 500,000/(1- 1.0075)^-240)*.0075 = 4498.63 , the bot is wrong again
2nd
amount = 2000(1.001666..^120) = 2442.40 , the bot is wrong again
Bot
You are correct. I apologize for the errors in my responses. Thank you for correcting them and providing the accurate calculations.