Posted by **Wendi Jones** on Monday, October 1, 2012 at 2:22pm.

If your bank pays 5.5 percent interest on savings deposits, what is the simple interest paid in the third year on an initial $100 deposit?

What is the total amount in the account after three years?

What is the amount after three years if the interest was compounded annually?

## Answer this Question

## Related Questions

- pre algebra - At the beginning of the year 2000, Bob put $100 in a savings ...
- College alerbra - Scott invested a total of $9500 at two separate banks. One ...
- Visual Basic 2008 Programming - Help! I'm not sure how to start or how calculate...
- Algebra - an algebra student won $115,000 in a lottery and wishing to deposit it...
- computer science - When $1000 is deposit at 5% simple interest, the amount grows...
- calculus - an amount of 1000 is deposited in a bank that pays 8% interest/year ...
- Economics - Suppose you deposit $5,000 in a bank which pays 10 percent interest ...
- Math Economics - 1. Jacksonville Technical College received $3,445,553 in state ...
- Finance - You have just placed $1,500 in a bank savings deposit and plan to hold...
- math (simple interest) - Susan collected $1.20 interest after 6 months. What was...