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Mathematics
Finance
Interest Calculation
how many years will it earn $72 in interest
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What is the percentage rate?
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you are going to open a certificate of deposit $500 for 3 years with 2% interest. another bank offers a CD in which you must
Top answer:
500 * 0.02 * 3 = 30 250 * 0.03 * 4 = 30 Why not deposit 500 in the second bank?
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jake put $ 600 in the bank for 4 years at 2.5% interest
a) how much interest will he earn after three years b) what is the total
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To find the answers to the given questions, we will use the formula for compound interest: A = P(1 +
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If I put $5,000 in a CD for a miniumum of 3 years, the bank will offer 3.25% interest. How much interest will I earn after 6
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You can figure it using this calculator.
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11. Your local bank is offering three promotions: You can make a minimum investment of $50 and earn an annual interest rate of
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compare 50(1 + 0.02)^5 100(1 + 0.005/4)^(4*5) The 3rd option doesn't specify the interest rate for
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John has $80 in a savings account that earns 55% annually. The interest is not compounded. How much interest will John earn in 2
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80 * 0.55 * 2 but I bet you mean 5.5 % which is 0.055
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Pat deposit $600 in his savings account at a simple interest rate of 6% per year for five years. How much money will Pat earn an
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To calculate the interest earned at the end of five years, we can use the formula: Interest =
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You deposit $10,000 in an account earning 3% interest, compounded semi-monthly (twice a month). You plan to leave the account
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To calculate the interest earned over 25 years, we can use the formula for compound interest: A =
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You deposit $10,000 in an account earning 5% interest, compounded semi-monthly (twice a month). You plan to leave the account
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P = Po(1+r)^n. r = (0.05/12)*1/2 = 0.0020833 = Semi-monthly % rate. n = 2Comp/mo. * 300mo = 600
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Solve the interest and the new balance for the following scenarios:
1. $450 at 5.2% interest for 3 years 2. $250 at 3.75%
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1. Interest: $70.20 New balance: $520.20 2. Interest: $46.88 New balance: $296.88 3. Interest:
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Rusty has $408 in a savings account. The account earns 5.5% interest every year. The interest is not compounded. How much
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To find the interest earned in 4 years, we can use the formula: Interest = Principal * Rate * Time
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