Question: Does not need to show work. Suppose an account has an interest rate of 11%/a and $5000 has been deposited in the account. How much

Does not need to show work. Does not need to show work. Suppose an account has an interest

Suppose an account has an interest rate of 11%/a and $5000 has been deposited in the account. How much simple interest is earned after 147 months? 2 Using the same scenario from Question 1, how much money sits in the account now? 3 What is the interest rate on an account that pays $2800 simple interest on a deposit of $10000 after 511 days? 14 How long would it take an account with an interest rate of 4%/a to pay $300 simple interest on a deposit of $6000? 5 You owe $450 simple interest on a charge from 78 weeks ago on a credit card. If the credit card has an interest rate of 15%/a, how much was the original charge on the card? N6 Alice decides to invest her life savings, $50000, into an account with an interest rate of 6%/a compounded monthly. How much money will Alice have in 20 years? ON7 Using the same scenario from Question 6, how much interest did Alice make? ON 8 Barry saw that the balance in his account, which has an interest rate of 14%/a compounded quarterly, now has $75000. How much did Barry originally invest if he opened his account 30 years ago and had not deposited anything since

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!

TQ 6.1: What is a partnership? What is prima facie evidence of a partnership's existence? TQ 6.2: In OCA v. Hodges, w hy did the court conclude that the arrangement between the parties was invalid...

Please show work You invested $900 at an interest rate of 6%, how much do you end up with after 12 years? What is the effect of compounding? You should use the these financial calculator registrar:...

Name _____________________ Date _________________________ Calculating Interest - Independent Practice Worksheet . 1. Richard deposited $5,500 for 6 years on 2.40% interest rate in his saving account....

Please show ALL of your work! Solve the following future value annuity questions. a) For a pension plan, it is required to put in $500 every 6 months into an account with a rate of 3.6%/ a compounded...

1. A bank is advertising the following 1-year CDs: ASSUME AN INITIAL INVESTMENT OF $10,000 Round all answers appropriate to the context. a. How much interest will a CD with an APR of 4.2% compounded...

Show all work Label and clearly explain your answer. This is very important. 1) You must explain how you arrived at your answer in order to get full credit 2) If you do show your work, and your...

Show all work. Label and clearly explain your answer. This is very important. 1) You must explain how you arrived at your answer in order to get full credit 2) If you do show your work, and your...

QUIZ 1 Show all work tabel and clearly explaie your answer. Thir ir very iesportene. 1) You nast explain how you arrived at your answer in orler to get full credit. 2) If you do show your wock, and...

Need help with questions? Maria and John have been married for 2 years and just learned that they are pregnant. 1. They have been renting a small apartment but decide to purchase a house. They find...

5. $2000 is invested for 10 years at 12%/a, compounded semi-annually. The amount of the investment at the end of 5 years is: a) $358.70 b) $3581.70 c) $1358.17 d) 351.87 6. $5000 in a saving account...

Beginning cash balance $ 35,000 Depreciation 60,000 Sale of share capital 100,000 Adjustments in non-cash working capital accounts (105,000) Payment of dividends 155,000 Profit for the year 412,000...

Pottery Pots sells flower vases, Chantiq which is sold at RM85 per unit. During the month of January 2008, a total of 2,500 units of Chantiq have been produced and sold. Below is the cost information...

What is examples of generative AI use - Provide two or tgree examples of prompts you used?

On 1 March 2007 DB Limited issued R560 000 15% debentures at R98. The debentures were to be redeemed at par in four equal annual payments starting 28 February 2010. Required: Journalise the above...