Maths

posted by Ranya

Mrs jasmine Invested $4000 in a building society which paid simple interest at a rate of 7.25% per annum to its investors. After 2 years, the rate was increased to 7.6% per annum. Find the amount she had T the end of 7 years

  1. John

    Do the first 2 years at the regular amount then ADD it to the final five years at the new amount. Both parts using the simple interest equation.

  2. Henry

    P1 = Po + Po*r*t = 4000 + 4000*0.0725*2 = $4580 After 2 yrs.

    P = Po + Po*r*t = 4580 + 4580*0.076*5 = Amt. after 7 yrs.

    After 2 years, the account becomes a new account with an initial investment of $4580 for 5 years.

  3. Anonymous

    6320.4

  4. Anonymous

    6100

  5. Hanzalah

    Interest before the rate was changed=4000x7.25x2/100
    =$580
    Interest after the rate was changed=4000x7.6x5/100
    =$1520
    Total Interest=$1520+$580
    =$2100
    Total money Mrs. Jasmine has after 7 years=$4000+$1520
    =$6100

  6. Hanzalah

    The above question I answered had a typing mistake. The total money Mrs. Jasmine has after 7 years is=$4000+$2100
    =$6100

Respond to this Question

First Name

Your Answer

Similar Questions

  1. math

    1.John deposited $40,000.oo in the bank and earned simple interest of 7% per annum for 2 years. calculate the amount he will receive at the end of the 2 year period. 2. Find the simple interest on $15,000.00 invested for 4 years at …
  2. maths

    The difference of compound interest and simple interest on an amount at the rate of 12% per annum for 2 years is Rs. 90/- then the amount will be -
  3. Help Please Math

    A principal of $2500 is invested,part at 8% per annum and the rest at 12% per annum. In a year, the 8% investment interest was doubled the 12% investment interest. How much invested at each rate?
  4. Maths

    Hamish borrowed $5000 for 3 years. He paid $1650 simple interest. What was the rate of interest per annum?
  5. math

    8.Mary invested RM3000 in two accounts, some at 12% per annum and the rest at 8 percent per annum.Her total interest for one year was RM3200.how much was invested at each rate?
  6. maths

    If an amount of Rs 10,000/- is invested at a simple interest of 12% per annum, how much it will become at the end of 5 years ?
  7. math

    hakiim invested 15000 he put part of it in a term deposit that paid 4% per annum and the remainder in a treasury bill that paing 5% per annum after one year the total interest was 690 how much did hakiim invest at each rate
  8. Business Math

    mr. mike invested two sums of money on simple interest. the fist was $2200 invested at 8% per annum and the second $1960 at 10% per annum. the sums were allowed to frow till bothe amounted to the same figure. in how many years did …
  9. Math

    Karthi had RS.5000 with him. he lent a part of 12% per annum simple interest and the remaining at 15% per annum. his total annum income was Rs.700.find the sum lent at12% per annum.
  10. Maths simple interest

    Q1)The length of time for $5000 to earn $1000 if invested at 10% per annum AND Q2)Khalid invests $6750 at 8.5% per annum.How much interest has he earned and what is the total amount in his account after 4 years?

More Similar Questions