# Math Finance

posted by .

How much interest does \$2560 earn in 17 months at a rate of 5 1/8 ?

• Math Finance -

I assume you mean simple interest at an annual rate of 5 1/8 %

5 1/8 % = 0.05125

17 months = 17/12 years.

\$2560 * .05125 * 17/12 = \$185.87

• Math Finance -

joan wants to start an IRA that will have \$250,000 in it when she retires in 18 years. How much should she invest nnually in her IRA to do this if the interest is 4% compounded annually round to the nearest cent

## Similar Questions

1. ### finance

You invest \$1,000 in a certificate of deposit that matures after 10 years and pays 5 percent interest, which is compounded annually until the certificate matures. a) How much interest will the saver earn if the interest is left to …
2. ### Math

1. Jacksonville Technical College received \$3,445,553 in state aid on September 15 for the fall academic semester. The vice-president for finance decided to invest \$2,000,000 in a 2-month investment that pays 11.5% simple interest. …
3. ### Real Estate Finance

If bank wished to earn \$6,300 on a loan over twelve months, what interest rate would the bank have to charge?
4. ### Math Personal Finance

Assume a 30-month CD purchased for pays simple interest at an annual rate of 5.5%. How much total interest does it earn?
5. ### Math Personal Finance

Assume a 30-month CD purchased for \$4000 pays simple interest at an annual rate of 5.5%. How much total interest does it earn?
6. ### Math

how much simple interest does \$2560 earn in 17 months at a rate of 5 1/8%?
7. ### math

Mary invested \$3,750 for 42 months at a simple interest rate of 3.85%. How much interest did she earn?
8. ### Finance

Assume a 30-month CD purchased for pays simple interest at an annual rate of 5.5%. 1. How much total interest does it earn?
9. ### math

An individual has purchased Rs.275,000 worth of Savings Certificate. The Certificate expires in 25 years and a simple interest rate is computed quarterly at a rate of 3 percent per quarter. Interest cheques are mailed to Certificate …
10. ### Math

an individual has purchased 275000 worth of savings certificates. Certificates expires in 25 years and a simple interest rate is computed quarterly at 3%per quarter. Interest checques are mailed to certificates holders ever 3 months. …

More Similar Questions