Sam earned a total of $135 000 in 2012. He saved 35% of his total income and invested his savings in a bank that pays 2.25% interest compounded yearly. Calculate the total amount of money he has in the bank after 3 years.
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- Kerry invests $234 in a savings account that earns 2.1% compounded annually. Andy invests $234 in a savings account that earns 4% compounded annually. How much is in each of their accounts after 10 years and after 20 years?a mother earned $15000.00 from royalties on her cookbook. She set aside 20% of this for a down payment for a new home. The balance will be used for her son's future education. She invested a portion of the money in a bank certificate of a deposit (cd account) that earns 4% and the remainder in a savings bond that earns 7%. IF the total interest earned after one year is $720.00, how much money was invested at each rate?Michael Perez deposited a total of $3000 with two savings institutions. Bank A pays interest at the rate of 6%/year, whereas Bank B pays interest at the rate of 7% /year . If Michael earned a total of $196 in interest during a single year, how much did he deposit in each institution?
- Ed wants to have $10, 000 in 5 years. He opens a savings account in a bank which pays 7.2% interest compounded monthly. He can either deposit a single lump sum or schedule monthly deposits. Find the amount Ed has to deposit as a single lump sum and the total interest earned. Find the amount of each monthly deposit Ed has to make and the total interest earned.A mother earned $18750.00 from royalties on her cookbook. She set aside 20% of this for a down payment on a new home. The balance will be used for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) that earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $900.00, how much money was invested at each rate? How much money was invested in the CD account? (Round to the nearest cent.) GILBA mother earned $12500.00 from royalties on her cookbook. She set aside 20% of this for a down payment on a new home. The balance will be used for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) that earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $600.00, how much money was invested at each rate?
- A rich man deposits money at a bank with 11.28% interest compounded annually 5 years ago. After that, he uses this money as his retirement fund, receiving 53,921.93 pesos monthly 123 times. Find the total amount of money he received.OWN WORK PLEASE FOR UPVOTEJace is trying to determine how to invest $1,234.56 that he inherited from his cousin Elijah. He has the following options at his bank. Certificate of Deposit that pays 4.25% simple interest.Savings Account that pays 3.95% compounded annually.How much will the CD be worth if he left the money untouched for 30 years? A) $2,808.66 B) $5,246.88 C) $4,303.23 D) $28,086.60A mother earned $17500.00 from royalties on her cookbook. She set aside 20% of this for a down payment on a new home. The home balance will be used for her sons future education. She invests a portion of the money in a bank certificate of deposit (CD account) that earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $840.00, how much money was invested at each rate? How much money was invested in the CD account? (Round to the nearest cent.) How much money was invested in the savings bond? (Round to the nearest cent.)
- Jared left $2000 in his saving account at his bank. His savings account pays 3.5% simple interest annually on the principal. He hasn't checked his balance in three years since his deposit, how much money will he have in this account?On a boy's seventh birthday, his parents deposited 5,000 in his name in a savings bank paying 2% every three months. Find the value of his savings when he reaches age 21 (Accumulation Factor Method)Stella deposits $54,000 in a savings account at a bank that offers interest of 5.3% on such accounts. What is the value of the money in her savings account in five years’ time?