Nancy deposited $950 into an account that pays 5.41% annual interest compounded annually. When she closed the account, her balance was $2,067. What was the overall percent increase in the account balance from her initial deposit until she closed the account?

Q: Joe took out a car loan for $12,000. He paid $4,800 in interest at a rate of8% per year. How many…

A: Considering it as simple interest, Number of years= 4800/{12000×0.08}= 5 years

Q: You deposited $900 into a savings account paying 2% compounded quarterly. Two years later, you…

A: Given:  You deposited $900 into a savings account paying 2% compounded quarterly. Two years later,…

Q: Find the principal invested if $495 interest was earned in 3 years at an interest rate of 6%.

A:

Q: Sam invests $1000 into an account earning 5.25% interest compound quarterly. How long will it take…

A:

Q: Johnny made ten annual payments of $1000 each into an account that pays 6% interest per year.  What…

A: The given question can be solved as shown in step2.

Q: Snape made a deposit of $495 into an account that pays 3% interest compounded annually. How much…

A:

Q: Frank invests $ 4500 dollars into an account earning interest compounded quarterly. After 7 years…

A:

Q: Winston deposited $3,294 in a bank account with interest rate 2.6%. How much interest was earned in…

A: Simple interest: Deposit amount is . Interest rate is. Find the interest that earned in 5 years.…