Question: + Page view Read aloud T) Add text Draw Homework 8 part 1 Simple Interest. Calculate the amount of money and interest you will have

+ Page view Read aloud T) Add text Draw Homework 8

+ Page view Read aloud T) Add text Draw Homework 8 part 1 Simple Interest. Calculate the amount of money and interest you will have in each account after 5 years, assuming that the account earns simple interest. 1. You deposit $800 in an account with an annual interest rate of 5%. 2. You deposit $1500 in an account with an annual interest rate of 4%. 3. You deposit $3200 in an account with an annual interest rate of 3.5%. Compound Interest. Use the compound interest formula to compute the balance and interest in each account after the stated period of time, assuming that interest is compounded annually. 1. $15,000 is invested at an APR of 3.2% for 25 years. 2. $3000 is invested at an APR of 1.8% for 12 years. Compounding More Than Once a Year. Use the appropriate compound interest formula to compute the balance, interest and APY in each account after the stated period of time. 1. $5000 is invested for 10 years with an APR of 4% and semi-annual compounding. 2. $25,000 is invested for 30 years with an APR of 3.7% and quarterly compounding. 3. $50,000 is invested for 15 years with an APR of 6% and monthly compounding 4. $25,000 is invested for 20 years with an APR of 5% and daily compounding

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