3. Carol Stoy invested $1000 at 5% annually for three months. How much interest did she received? 4. Find the exact time from October 12 to March 28 of the following year (a leap year). 5. Suhail invests RM3,850 at 4.5% simple interest in a bank. Find the amount in the account after seven months.
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- Can you please help me work out this problem in detail? Minnie Rose deposited $15,000 in Street Bank at 4% interest compounded quarterly. What was the balance on Minnie’s account at the end of year 1? What was the interest earned on this account? What was the effective rate (APY)? Round your answer to the nearest hundredth of a percent.1. Investment Luc invests $7000 in two bank accounts. One earns 1.5% simple interest per year, and the other earns 2.5% simple interest per year. After one year the total inter- est earned on these investments is $120.25. How much money did he invest in each account?Mrs. Peacock invests $4757 in a bank account that has an interest rate of 4% for the first 4 months, and 8% thereafter. How much money will she have after 9 months?
- A bank offers an investment account with an annual interest rate of 1.49% compounded quarterly. Maria invests $4200 into the account for 5 years. 1. Assuming no withdrawals are made, how much money is in Maria's account after 5 years? 2. How much interest is earned on Maria's investment after 5 years?1) Alisha invests 5,000 into an account. The effective monthly interest rate is .25% for the first six months, .5% for the next year, and .75% for the next six months. Find the amount Alisha has in the account after two years, and find the average compound monthly interest rate (i.e. the equivalent effective monthly interest rate) for the two year period. Finally, find the average yearly interest rate (i.e. the equivalent effective annual interest rate) for the two year period.Mr. Nailor invests $21,000 in a money market account at his local bank. He receives annual interest of 7% for 6 years. How much return will his investment earn during this time period? Use Appendix A. (Round "FV Factor" to 3 decimal places.) $10,521 $29,205 $31,521 $13,986
- Muhammad opens a bank account paying i(4) = 7.250%. 1 year later, he has $5,139.38 in his account. How much money did he deposit in the account at the start? (No dates or daycount convention are given, so use theoretical time; i.e. 1 year = 365 days = 52 weeks = 12 months etc. and count time in periods. e.g. 3 weeks = 3/52 years; 3 months = 0.25 years, etc.) a. $4,825.83 b. $4,783.07 c. $4,775.94 d. $4,804.45 e. $4,818.70Susie opens a simple interest checking account. After 6 months, her account grew from P5,000 to P5062.50. What is the annual interest rate on her account?Margaret M. withdrew $630,315 from an account into which she had invested $350,000. If the account paid interest at 4% per year, she kept the money in the account for how many years?
- Diana invested her savings of $1,775 in a savings account that was earning simple interest at 2.25% p.a. She also invested $3,125 in her friend's business at 0.46% p.m. a. What is the interest rate per month that is equivalent to 2.25% p.a.? %Round to two decimal places b. What was the total interest earned from both investments at the end of 7 months? Round to the nearest cent1. Suppose that Nora invested $800at 8.5% compounded annually for 7years and Patti invested $800 at 8% compounded quarterly for 7 years. At the end of 7years, who will have the most money and by how much (to the nearest dollar)? 2. Use the formula I=Prt to reach a solution for the following problem. One month a credit card company charged $9.27in interest on a balance of $3,708. What annual interest rate is the credit card company charging?Assume that Louisa carried an average balance of $1,000 from her credit card purchases over the past year. The A.P.R. on her credit card for the past year was 19.99%. Approximately how much interest would Louisa have paid over the course of the year? She would have paid interest charges of $2,000. She would have paid interest charges of $20. The credit card company would have paid Louisa $20. She would have paid interest charges of $200.