You put $500 in the bank, where it earns 1.5% simple interest each year. How long until your money will triple?

Q: Melanie invests $13,000 at 13% simple interest for 1 year. How much is in the account at the end of…

A: Substitute 13000 for P, 13% for r and 1 year for t in the simple interest formula I=Prt and…

Q: You deposit $3000 in an account earning 5% interest compounded monthly.  How much will you have in…

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Q: You deposit $400 in an account earnings 3% interest compounded annually. How much will you have in…

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Q: Paul puts $300 in a savings account that earns 3% interest annually. How much interest will he earn…

A: Given Paul puts $300 in a savings account that earns 3% interest annually. To find how much interest…

Q: You deposit $3000 in an account earning 3% interest compounded monthly. How much will you have in…

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Q: You deposit $6000 in an account earnings 3% interest compounded monthly. How much will you have in…

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Q: You deposit $500 each month into an account earning 4% interest compounded monthly. a) How much will…

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Q: Ronnie deposited 80, 000n in a savings account that pays 4 1/2% simple interest and earned 10,800 in…

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Q: You have $10,000 to deposit in a savings account that earns simple interest at a rate of 4.5% per…

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Q: How much money do you need to deposit in a bank today if you are planning to have $5000 in four…

A: Here we have to find hoe much money do you need to deposit in a bank today if you are planning to…

Q: A bank account uses simple interest. If 10,000 is deposited at a rate of 4% interest, how much money…

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Q: You deposit $500 in an account earning 4% interest compounded annually. How much will you have in…

A: The continuous compounding formula is, Pt=P0ert In the formula, P0 is original principle sum, r be…

Q: Suppose you spend $12 a week on snacks. If you donate half that amount to a charity, how much will…

A: Given that, you spend $12 a week on snacks.

Q: You deposit $175 in an account that pays 4% interest compounded quarterly. How much will you have in…

A: The formula for the compound interest is given by A=P1+rnnt, where A is the final amount, P is the…

Q: Dylan takes out a bank loan of $11,500 at 3.8% interest compounded annually. How much interest, in…

A: Given data is : Loan P=$11500 Interest rate r=3.8%, compounded annually. Time t=3 years To find the…

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: You deposit $200 each month into an account earning 4% interest compounded monthly. a) How much…

A: according to question, we have deposit $200 each month into an account earning 4% interest…

Q: Reynaldo deposits 20,000 in a bank at an interesta rate of 6% If it’s compounded annually, how…

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Q: Find the simple interest and total amount if you borrow $8000 at 12% for 3 years.

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Q: You deposit $100 each month into an account earning 2% interest compounded monthly. a) How much will…

A: The details solution is given below

Q: You deposit $300 in an account earning 6% interest compounded annually. How much will you have in…

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Q: Ms. Cruz borrowed P50, 000 and repaid it 5 years later. If money earns interest at16% compounded…

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Q: An investment pays simple interest, and doubles in 13 years. What is the interest rate? Answer =

A: Formula for simple interest is :  I = P×R×T where ,   P = Principal  Amount  R = Annual rate of…

Q: 4400 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the…

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Q: You deposit $6000 in an account earning 7% interest compounded monthly. How much will you have in…

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Q: You deposit $500 each month into an account earning 8% interest compounded monthly. a.how much will…

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Q: Fred invested $25,000 at 4% simple interest. How much interest will he earn each year?

A: Simple interest:Simple interest is an easy method of calculating the interest charge on a loan.…

Q: You deposit $100 each month into an account earning 6% interest compounded monthly. a) How much will…

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Q: You deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in…

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Q: How much should you invest at 4% simple interest in order to earn $65 interest in 19 months?

A: Given: r=4%=0.04 I=65 t=19 months=19/12=1.5833 years To find P=?

Q: 3600 dollars is placed in an account with an annual interest rate of 9%. How much will be in the…

A: Given that $3600 is placed in account with an annual interest rate of 9%.

Q: Duncan opened a savings account and deposited $200.00 as principal. The account earns 7% interest,…

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Q: Marcos's savings account has a balance of $ 4,643. After 25 years, how much will your profit be at…

A: Compound interest formula:  , where A is amount after t year, P is initial amount, t is number of…

Q: You deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given: The amount $4000 deposit in an account with rate of interest 5.1%, compounded monthly for 7…

Q: Simone invests $4,000 in an account that compounds interest quarterly and earns 7%. How many years…

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Q: Cueton Hep For her daughter's education, Georgina Harcourt has invested an inheritance in a fund…

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Q: During a prolonged recession, property values on Long Island depreciated by 4% every 6 months. If my…

A: Given-House cost/present value(PV)=$200,000n=6 yearsdepreciated rate(r)=4%frequency(f)=6 monthin…

Q: If you want to earn 15% annual simple interest on an investment how much should you pay for a note…

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Q: You deposit $3000 in an account earnings 3% interest compounded monthly. How much will you have in…

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Q: You deposit $6000 in an account earning 7% interest compounded monthly. How much will you have in…

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Q: You deposit $1000 each year into an account earning 2% interest compounded annually. How much will…

A: Given:   P = 1000    r = 2% = 2/100 = 0.02    t = 20    n = 1 ( compounded annually )

Q: You deposit $300 in an account earning 7% interest compounded annually. How much will you have in…

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Q: An investment pays simple interest, and triples in 9 years. What is the interest rate? Answer =…

A: Simple Interest formula , A=P(1+rt) where A= final amount,                                P =…

Q: Nancy invested $6000 in a bond at a yearly rate of 3%. She earned $450 in interest. How many years…

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Q: You invest $4000 in an account with an APR of 3% and daily compounding. How much will you have after…

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Q: . How much money will the customer have in the account after 5 years?

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Q: You deposit $1000 each year into an account earning 6.1% interest. How much will you have in the…

A: Given Information :  Amount $1000 deposit each year into an account earning 6.1% interest.  Let,  P…

Q: Today, Sarah bought a condofor $310,000 a) Assumingthat the condo increase years?

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