sandra and cindy both invest $14,000 into savings accounts that earn simple interest if sandras account  earns 4.5% interest and candys account earns 6% intresr,how much more intrest will cindy have earened after 7 years?

6) Susan is looking to purchase her first home five years from today. The house costs $1,550,000. She will have to make a down payment of 10% of this amount and plans to take a loan from the bank for the difference. Bank charges are approximately 15% of the loan amount. She plans to start saving from today to cover both the down payment and the bank charges. a. How much will she need to save to cover both the down payment and bank charges? b. If she currently has $195,000 in her account and will make no further deposits over the next five years, what rate of interest must she earn on this account in order to achieve the savings target calculated in part (a) above?

Formulate a system of equations for the situation below and solve. Michael Perez has a total of $2900 on deposit with two savings institutions. One pays interest at the rate of 6% / year, whereas the other pays interest at the rate of 8% / year. If Michael earned a total of $212 in interest during a single year, how much does he have on deposit in each institution? at 6%/year $ at 8%/year $

When you were born, your dear old Aunt Minnie promised to deposit $1,000 into a savings account bearing a 5% compounded annual rate on each birthday, beginning with your first. You have just turned 22 and want the dough. However, it turns out that dear old (forgetful) aunt Minnie made no deposits on your third, fifth, and eleventh birthdays. How much is in the account right now?