Amy invested $2,560 for 275 days at a simple interest rate of 3.50% p.a. How much more or less interest would he have earned on the investment if his money was growing at a simple interest rate of 4.00% p.a. instead of 3.50% p.a.?

 

Round to the nearest cent

 

1. Juliana invested $5,000 at 5.50% p.a. simple interest. How many days will it take for her investment to grow to at least $5,200?

 

Round to the next day

 

2. Whitney acquired a $5,000.00, 91-day, Province of Alberta T-bill on its date of issue for a price of $4,932.37. What was the annual simple interest rate of the T-bill?

 

 

 

Answer rating: 100% (QA)

Question 1 Interest Rate Difference Scenario Amy invested 2560 for 275 days at 350 pa simple interes... View the full answer