# Maths

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. 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.

posted by John
2. 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.

posted by Henry
3. 6320.4

posted by Anonymous
4. 6100

posted by Anonymous
5. 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

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

posted by Hanzalah

## Similar Questions

1. ### math

jack invested \$4000 in two accounts. one pays simple interest at the rate of 5% and the other pays simple interest at the rate of 6%. if jack earned a total of \$224 in interest in the first year, how much did he invest in each
2. ### math

you invested \$4000 in two accounts paying 2% and 9% annual interest, respectively if the total interest earned for the year was \$150, how much was invested at each rate. \$_was invested at 2% and _\$ was invested at 9%
3. ### algebra

if Sam invested \$10,000 at simple interest, some at 3% and some at 4% and paid \$320 , what was the amount invested at each rate?
4. ### Math(simple interest)

Mr.X invested a total of Rs.10,000 in three different accounts, the Accounts paid simple interest at an annual rate of 8%,9% and 7.5% respectively. Total interest earned for the year was Rs.845. The amount in the 9% account was
5. ### Math

Larry has an annual return of \$213.00 from \$3000.00 invested at simple interest. One at 5% and the other at 8%. How much is invested at each rate. (Hint, Interest earned = amount invested x rate of interest.)
6. ### 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
7. ### 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? 9.RM 1999 was invested for a certain period. The
8. ### Math

An investment advisor invested a total of \$12,000, part at 2.5% annual simple interest and part at 4% annual simple interest. The amount of interest earned for 1 year was \$426. How much was invested at the 2.5% rate and how much
9. ### Algebra

The Smiths invested \$14,000, part at 3% simple interest and the rest at 4% simple interest for a period of one year. if the total interest earned was \$460, how much was invested at each rate?
10. ### 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

More Similar Questions