Interest Answers
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With compound interest, what happens when you start compounding more and more frequently?
A
there is no correlation between compound interest and the computed valueB
the computed value stays the sameC
the computed value gets largerD
the computed value gets smaller22
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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
$22,558.87B
$23,948.47C
$22,390.94D
$19,346.4423
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
$1589.52B
$1584.52C
$1575.52D
$1437.0024
What is the formula for simple interest? a. c. b. d. Please select the best answer from the choices provided
A
AB
BC
CD
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