Interest Answers

Solve the problem. Round to the nearest cent.Walter's savings account has a balance of $273. After 5 years, what will the amount of interest be at 5% compounded quarterly?a.$6.83c.$77.00b.$68.00d.$82.00

Solve the problem. Round to the nearest cent. Mrs. Stevens wants to have $18,000 in the bank in 3 years. If she deposits $9500 today at 4% compounded quarterly for 3 years, how much additional money will she need to add after three years to her investment to make her balance $18000? a. $8356.79 c. $7295.16 b. $0 d. $10,704.84 Please select the best answer from the choices provided

Solve the problem. Round to the nearest cent.Stan’s savings account has a balance of $1986. After 23 years, what will the amount of interest be at 4% compounded annually?a.$2908.93c.$2913.93b.$2899.93d.$794.40

Solve the problem. Round to the nearest cent.John deposited $2860 in a bank that pays 9% interest, compounded monthly. Find the amount he will have at the end of 3 years.a.$3742.73c.$8044.22b.$3128.29d.$3632.20

Solve the problem. Round to the nearest cent.Carl deposited $1220 in a bank that pays 9% interest, compounded monthly. Find the amount he will have at the end of 3 years.a.$3431.45c.$1549.40b.$1596.55d.$1334.44

Solve the problem. Round to the nearest cent.Tabby Soft believes that it will need new equipment in 5 years. The equipment will cost $26,000. What lump sum should be invested today at 6%, compounded semiannually, to yield $26,000?a.$22,558.87c.$22,390.94b.$23,948.47d.$19,346.44

Solve the problem. Round to the nearest cent.Nora's savings account has a balance of $3979. After 4 years, what will the amount of interest be at 12% compounded semiannually?a.$2367.92c.$2362.92b.$4774.80d.$2353.92

Solve the problem. Round to the nearest cent.Barry's savings account has a balance of $2874. After 9 years, what will the amount of interest be at 5% compounded annually?a.$1589.52c.$1575.52b.$1584.52d.$1437.00

Determine the simple interest on an account paying 5.5% annually interest of an investment of $20,650.a.$1115.65c.$1135.75b.$1125.55d.$1145.45

Solve the problem. Round to the nearest cent.Jason's savings account has a balance of $2179. After 5 years, what will the amount of interest be at 6% compounded quarterly?a.$760.80c.$755.80b.$65.37d.$746.80