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    Farhan Ali Shaikh
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    This document outlines the details of a $10,000 deposit made by Kenneth Steele on February 5th, 2014 into an account with a monthly interest rate of 6%. It then lists the monthly interest accrued, interest payment made, and running balance for each month through February 5th, 2019 as the balance grew through the accumulating interest over time.

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    Finance Assignment Compound interest rate monthly

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    This document outlines the details of a $10,000 deposit made by Kenneth Steele on February 5th, 2014 into an account with a monthly interest rate of 6%. It then lists the monthly interest accrued, interest payment made, and running balance for each month through February 5th, 2019 as the balance grew through the accumulating interest over time.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Download as pdf or txt
    11 views3 pages

    6% Monthly Interest Rate

    Uploaded by

    Farhan Ali Shaikh
    This document outlines the details of a $10,000 deposit made by Kenneth Steele on February 5th, 2014 into an account with a monthly interest rate of 6%. It then lists the monthly interest accrued, interest payment made, and running balance for each month through February 5th, 2019 as the balance grew through the accumulating interest over time.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 3

    Client Name Kenneth Steele Phone Number Contact Keith Mellen

    Amt. deposited $10,000 9/124 OUTH TCE


    A 5095
    Interset Rate 6.00% Monthly CAN 008153 044

    Date Total deposit Monthly intrest rate Monthly Intrest Payment Balance
    5-Feb-14 10000 - - 10000
    5-Mar-14 10000 0.06 600 10600
    4/5/2014 10600 0.06 636 11236
    5-May-14 11236 0.06 674.16 11910.16
    6/5/2014 11910.16 0.06 714.6096 12624.7696
    5-Jul-14 12624.7696 0.06 757.486176 13382.25578
    8/5/2014 13382.25578 0.06 802.9353466 14185.19112
    5-Sep-14 14185.19112 0.06 851.1114674 15036.30259
    10/5/2014 15036.30259 0.06 902.1781554 15938.48075
    5-Nov-14 15938.48075 0.06 956.3088447 16894.78959
    12/5/2014 16894.78959 0.06 1013.687375 17908.47697
    5-Jan-15 17908.47697 0.06 1074.508618 18982.98558
    2/5/2015 18982.98558 0.06 1138.979135 20121.96472
    5-Mar-15 20121.96472 0.06 1207.317883 21329.2826
    4/5/2015 21329.2826 0.06 1279.756956 22609.03956
    5-May-15 22609.03956 0.06 1356.542373 23965.58193
    6/5/2015 23965.58193 0.06 1437.934916 25403.51685
    5-Jul-15 25403.51685 0.06 1524.211011 26927.72786
    8/5/2015 26927.72786 0.06 1615.663671 28543.39153
    5-Sep-15 28543.39153 0.06 1712.603492 30255.99502
    10/5/2015 30255.99502 0.06 1815.359701 32071.35472
    5-Nov-15 32071.35472 0.06 1924.281283 33995.63601
    12/5/2015 33995.63601 0.06 2039.73816 36035.37417
    5-Jan-16 36035.37417 0.06 2162.12245 38197.49662
    2/5/2016 38197.49662 0.06 2291.849797 40489.34641
    5-Mar-16 40489.34641 0.06 2429.360785 42918.7072
    4/5/2016 42918.7072 0.06 2575.122432 45493.82963
    5-May-16 45493.82963 0.06 2729.629778 48223.45941
    6/5/2016 48223.45941 0.06 2893.407564 51116.86697
    5-Jul-16 51116.86697 0.06 3067.012018 54183.87899
    8/5/2016 54183.87899 0.06 3251.032739 57434.91173
    5-Sep-16 57434.91173 0.06 3446.094704 60881.00643
    10/5/2016 60881.00643 0.06 3652.860386 64533.86682
    5-Nov-16 64533.86682 0.06 3872.032009 68405.89883
    12/5/2016 68405.89883 0.06 4104.35393 72510.25276
    5-Jan-17 72510.25276 0.06 4350.615165 76860.86792
    2/5/2017 76860.86792 0.06 4611.652075 81472.52
    5-Mar-17 81472.52 0.06 4888.3512 86360.8712
    4/5/2017 86360.8712 0.06 5181.652272 91542.52347
    5-May-17 91542.52347 0.06 5492.551408 97035.07488
    6/5/2017 97035.07488 0.06 5822.104493 102857.1794
    5-Jul-17 102857.1794 0.06 6171.430762 109028.6101
    8/5/2017 109028.6101 0.06 6541.716608 115570.3267
    5-Sep-17 115570.3267 0.06 6934.219604 122504.5463
    10/5/2017 122504.5463 0.06 7350.272781 129854.8191
    5-Nov-17 129854.8191 0.06 7791.289148 137646.1083
    12/5/2017 137646.1083 0.06 8258.766496 145904.8748
    5-Jan-18 145904.8748 0.06 8754.292486 154659.1673
    2/5/2018 154659.1673 0.06 9279.550035 163938.7173
    5-Mar-18 163938.7173 0.06 9836.323038 173775.0403
    4/5/2018 173775.0403 0.06 10426.50242 184201.5427
    5-May-18 184201.5427 0.06 11052.09256 195253.6353
    6/5/2018 195253.6353 0.06 11715.21812 206968.8534
    5-Jul-18 206968.8534 0.06 12418.13121 219386.9846
    8/5/2018 219386.9846 0.06 13163.21908 232550.2037
    5-Sep-18 232550.2037 0.06 13953.01222 246503.2159
    10/5/2018 246503.2159 0.06 14790.19296 261293.4089
    5-Nov-18 261293.4089 0.06 15677.60453 276971.0134
    12/5/2018 276971.0134 0.06 16618.26081 293589.2742
    5-Jan-19 293589.2742 0.06 17615.35645 311204.6307
    2/5/2019 311204.6307 0.06 18672.27784 329876.9085

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