Connie put $7,525 into a term deposit on March 10th. The deposit earns a simple interest rate of 5%. If the term deposit will mature on July 4th, how much interest will Connie earn?
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Connie put $7,525 into a term deposit on March 10th. The deposit earns a simple interest rate of 5%. If the term deposit will mature on July 4th, how much interest will Connie earn?
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- If Rita receives $41.64 interest for a deposit earning 7% simple interest for 170 days, what is the amount of her deposit? (round your answer to the nearest cent.)Suppose on January 1st you deposit $100 in an account that pays a nominal interest rate of 11.33463% with interest added (compounded) daily. How much will you have in your account on October 1st or 9 months later?Henry takes out a $650 discounted loan with a simple interest rate of 12% for a period of 7 months. How much money does Henry receive into his bank account when the loan is drawn down?
- Adrian received the proceeds from an inheritance on May 14. He wants to set aside enough on May 15 so that he will have $21,000 available on October 8 to purchase a car when the new models are introduced. If the current interest rate on 1- to 180-day deposits is 6 00%, what amount should he place in the term deposit? For full marks your answer(s) should be rounded to the nearest cent Click here for help computing the number of days between two dates Principal = $ 0.00vince has just opened an 18-month certificate of deposit on which interest compounds daily. he deposited $4,635 and the effective rate of interest is 4.73%. how much total interest will he earn?.Lucinda placed $12,000 in a 16-month term deposit paying 5.05% simple interest. How much will the term deposit be worth when it matures?
- Jessica borrowed $25,000 on January 15 at a variable interest rate of 5%. On March 22, the rate increased to 6%. 1. How much interest will she pay when she repays her loan on June 15? 2. What is the total amount that she will end up paying for this loan?James deposited $500 in his bank at 4.5% for 90 days. Use the simple interest formula to calculate the amount of interest James will earn using exact interest. Calculate the future value of the deposit.Tess wanted to have P100,000 on her bank account at the end of 8years. She plans to deposit an amount at the beginning of each month at an interest rate of 3.5% compounded quarterly.a.What is her monthly deposits?b.What is the present worth of these deposits?
- Gus deposits $8,000 on February 2, 2021. How much does Gus have on November 11, 2021 if the simple interest rate is 4%?It is now January 1, 2018. You will deposit $1,000 today into a savings account that pays 8 percent.a. If the bank compounds interest annually, how much will you have in your account on January 1, 2021?b. What would your January 1, 2021, balance be if the bank used quarterly compounding? c. Suppose you deposit $1,000 in 3 payments of $333.333 each on January 1 of 2019, 2020, and 2021.How much would you have in your account on January 1, 2021, based on 8 percent annual compounding?d. How much would be in your account if the 3 payments began on January 1, 2018? e. Suppose you deposit 3 equal payments in your account on January 1 of 2019, 2020, and 2021.Assuming an 8 percent interest rate, how large must your payments be to have the same ending balance asin part a?A man wants to borrow $1500 at 10% interest rate from October 1 through December 23. How much will he have to pay at the end of his loan term?