Interest Answers

Solve the problem. Round to the nearest cent.Stan’s savings account has a balance of $1986. After 23 years, what will the amount of interest be at 4% compounded annually?

Solve the problem. Round to the nearest cent.John deposited $2860 in a bank that pays 9% interest, compounded monthly. Find the amount he will have at the end of 3 years.

Determine the simple interest on an account paying 5.5% annually interest of an investment of $20,650.

What is the formula for simple interest? a. c. b. d. Please select the best answer from the choices provided

Determine the simple interest on an account paying 6.5% annually interest of an investment of $5,250.

Solve the problem. Round to the nearest cent.Tabby Soft believes that it will need new equipment in 5 years. The equipment will cost $26,000. What lump sum should be invested today at 6%, compounded semiannually, to yield $26,000?

Solve the problem. Round to the nearest cent.Walter's savings account has a balance of $273. After 5 years, what will the amount of interest be at 5% compounded quarterly?

Solve the problem. Round to the nearest cent.Nora's savings account has a balance of $3979. After 4 years, what will the amount of interest be at 12% compounded semiannually?

Solve the problem. Round to the nearest cent.Jason's savings account has a balance of $2179. After 5 years, what will the amount of interest be at 6% compounded quarterly?

Solve the problem. Round to the nearest cent. Mrs. Stevens wants to have $18,000 in the bank in 3 years. If she deposits $9500 today at 4% compounded quarterly for 3 years, how much additional money will she need to add after three years to her investment to make her balance $18000?