Kevin invested part of his $5000 bonus in a certificate of deposit (CD) that paid 2% annual simple interest, and the remainder in a mutual fund that paid 4% annual simple interest. If his total interest for that year was $140.00, how much did Kevin invest in the mutual fund? Group of answer choices Kevin invested $4986.00 in the mutal fund. Kevin invested $4846.00 in the mutal fund. Kevin invested $2000.00 in the mutal fund. Kevin invested $2140.00 in the mutal fund.

How can we calculating effective Interest Rates based on Payment Periods?

Kelsey purchases a retirement annuity that will pay her $1,500 at the end of every six months for the first ten years and $700 at the end of every month for the next six years. The annuity earns interest at a rate of 3.6 % compounded quarterly. Question 5 of 6 a. What was the purchase price of the annuity? Round to the nearest cent b. How much interest did Kelsey receive from the annuity? Round to the nearest cent

a. If you have a choice between depositing your $100 into an account that earns 7% simple interest for 5 years, or one that earns 6% compound interest for 5 years, which would you choose? Instructions: Enter your responses as whole numbers. After 5 years, your deposit in the 7% account would be worth $ After 5 years, your deposit in the 6% account would be worth $ Therefore, you should choose (Click to select) b. What if you were depositing your $100 for 20 years? Instructions: Enter your responses as whole numbers. After 20 years, your deposit in the 7% account would be worth $ After 20 years, your deposit in the 6% account would be worth $ Therefore, you should choose (Click to select)