Henry makes a short-term investment of $12,500 at a 4% interest rate for 1 year. How much will he receive at the end of the year?  He makes a new investment for a longer period of time. He invests $8,000 at an 8% interest rate per year. How much will he receive after 7 years? What is the amount of interest?  After 5 years, Henry wants to spend $12,000 for a road trip. 

How much should he deposit into his bank account now that pays an interest rate of 6%?

Answer rating: 100% (QA)

To calculate the amount Henry will receive at the end of each investment period and the interest ear... View the full answer