Determine the amount of interest that will be earned on each of the following investments: (Round answers
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Question:
Determine the amount of interest that will be earned on each of the following investments: (Round answers to 2 decimal places, e.g. 15.25.)
(i) | (n) | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Investment | Interest Rate | Number of Periods | Type of Interest | Amount of Interest | ||||||||||||
a. | $170 | 5% | 1 | Simple | $enter a dollar amount rounded to 2 decimal places $ | |||||||||||
b. | $620 | 6% | 3 | Simple | $enter a dollar amount rounded to 2 decimal places $ | |||||||||||
c. | $600 | 7% | 2 | Compound | $enter a dollar amount rounded to 2 decimal places $ |
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: