Question: 21 (2 points ) Using the simple interest formula, calculate the interest earned on $25,000 after .5 years at 3% return

21 (2 points ) Using the simple interest formula, calculate the interest earned on $25,000 after .5 years at 3% return

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

1. A new computer costs $995. A store offers a payment plan of only $45 a month for 2 years and a $100 down payment. a. What is the total cost of the payment plan. b. How much is the finance charge...

Q:

2 1 Using the simple interest formula 1 = Prt, compute the amount of interest earned for $6963.00 at 8% for 3 years. 33 The interest earned is $ (Round the final answer to the nearest cent as needed....

Q:

PART 1: SAVING FOR RETIREMENT If you save $5,000 in your first year after graduating college and you put the money in an investment earning 8% per year, how much money will this have grown to in 30...

Q:

Understanding Compound Interest Be sure to show your work. Using the simple interest method calculate total interest income for two years, given the following information: (2 points) Principal amount...

Q:

TRUE/FALSE. Write T if the statement is true and F if the statement is false. 1) Web-only banks offer both online transactions and face-to-face transactions. 2) Making transactions using a credit...

Q:

TI- PROBLEMS (20 Points) Payment, and an APR. A a mnang selects the cing through the d 1- Calculating the Total Cost of a Purchase, the Monthly Payment, and an APR. After visiting several automobile...

Q:

write the formula for the following : 1. Simple Interest formula 2. Compound interest formula (Interest paid once a year) 3. Compound interest rate formula 4.Compound interest formula (Interest paid...

Q:

Using the simple interest formula, determine the number of days until $964.00 will earn $32.58 interest at 5% p.a. The number of days required is (Round up the final answer to the nearest day as...

Q:

1. Julio wants to purchase a truck. The purchase price of the truck is $40,000. The dealership will allow him to pay cash or finance the truck for a down payment of $4,000 and 60 monthly payments of...

Q:

Answer using the simple interest formula and the Future Value table what is the total monthly payment? 1. Borrowing $200, 000 for five years at 8% interest. (SBA loan) 2. Borrowing $150,000 for five...

Q:

Prove that the following is similarity invariant: Rank

Q:

To secure a loan, Rubin pledges stock that he represents as being marketable and worth approximately $1.7 million. In fact, the stock is nonmarketable and practically worthless. He is charged with...

Q:

Which would you prefer? A 3 % annual yield on an investment in 1 0 - year U . S . government bonds. A 4 % annual yield on a credit risk - free 1 0 - year government bond from the mythical country of...

Q:

Add "Viggo Mortenslet cast = new Map ( ) ;en " to the cast as the key, with value "Aragorn".