Math
posted by DrBob222 .
Is that 6%/year simple interest? If so, then
$500 x 0.06 = $30 for one year. So for 90 days, $530 can't be correct. I would like to have an account that would more than double in a year, much less in 90 days.
The Investors Club invests $500 at 6%
simple interest. How much is in the account after 90 days?
I get $530 Can you check
Is that 6%/year simple interest? If so, then
$500 x 0.06 = $30 for one year. So for 90 days, $530 can't be correct. I would like to have an account that would more than double in a year, much less in 90 days.
Respond to this Question
Similar Questions

Finance
. (TCO 3) Mark deposited $1,000 today, in an account that pays eight percent interest, compounded semiannually. Which one of the following statements is correct concerning this investment? 
algebra
Last year, Susan had 30,000 to invest. She invested some of it in an account that paid 8% simple interest per year, and she invested the rest in an account that paid 7% simple interest per year. After one year, she received a total … 
Math Economics
1. Jacksonville Technical College received $3,445,553 in state aid on September 15 for the fall academic semester. The vicepresident for finance decided to invest $2,000,000 in a 2month investment that pays 11.5% simple interest. … 
Math
. Jacksonville Technical College received $3,445,553 in state aid on September 15 for the fall academic semester. The vicepresident for finance decided to invest $2,000,000 in a 2month investment that pays 11.5% simple interest. … 
Math 0098
Last year, Joe had to invest. He invested some of it in an account that paid simple interest per year, and he invested the rest in an account that paid simple interest per year. After one year, he received a total of in interest. How … 
Math 0098
Last year, Deon had $20,000 to invest. He invested some of it in an account that paid 6% simple interest per year, and he invested the rest in an account that paid 10% simple interest per year. After one year, he received a total of … 
Algebra
Last year, Deon had $10,000 to invest. He invested some of it in an account that paid 6%simple interest per year, and he invested the rest in an account that paid 9% simple interest per year. After one year, he received a total of … 
Simple Interest
Last year, Ivan had $20,000 to invest. He invested some of it in an acount that paid 9% simple interest per year, and he invested the rest in an account that paid 7% simple interest per year. After one year, he received a total of … 
Algebra
last year, justin had 30,000 to invest. he invested some of it in an account that paid 5% simple interest per year, and he invested the rest in an account that paid 10% simple interest per year. After one year, he recieved a total … 
math
Last year, Carmen had $20,000 to invest. She invested some of it in an account that paid 9% simple interest per year, and she invested the rest in an account that paid 5% simple interest per year. After one year, she received a total …