Irregular Invest. Example 1

Lets look at an example.

Irregular Investment - Example 1

Mr. In. Consistent has made a series of Deposits and Withdrawals from his business account and would like to verify his interest total. His account pays interest set by the bank and has changed a few times over the course of the year. The rate is compounded monthly. The following information is what his records show.

Date	Desposit	Withdraw	Interest	Note
May 20, 2010	$40,000		10%	New Account
June 20, 2010		$1,014.50	10%	Expenses
July 20, 2010		$1,014.50	10%	Expenses
Aug. 20, 2010		$1,014.50	10%	Expenses
Sept. 20,2010		$1,014.50	10%	Expenses
Oct.20, 2010		$1,014.50	10%	Expenses
Nov. 20, 2010		$1,014.50	10%	Expenses
Jan. 20, 2011	$650.58		9.125%	Sales
Jan. 22, 2011		$765.23	9.65%	Expenses
Jan. 28, 2011		$1,456.35	9.125%	Expenses
This withdrawal amount was done weekly for three weeks.
Feb. 02, 2011			8.75%	Interest Charge
Feb. 19, 2011	$7,560.25		8.75%	Sales
Feb. 26, 2011		$13,279.62	8.75%	Expense
This withdrawal amount was done weekly for three weeks.
May 20, 2011	Account Closed

What is the total amount of interest this account earned over the course of the year.

Solve What is the total amount of interest this account earned over the course of the year.

Generate a table reflecting all the entries.

action Select the Irregular Investments Form and enter in all the known information from

the example.

Compare your form to the one illustrated below.

Irregular Investment Example 1a

Based on the entered values, Mr. In. Consistant's Account would have $31,120.48 in the account the day he closed it. He earned a total of $3,483.35 interest.

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Irregular Invest. Example 1					Irregular_Invest._Example_1 Dear Support Staff,
Irregular Invest. Example 1