Simple Interest Answers

Nate has an account that pays 2.76% simple interest per year and wants to accumulate $3,090 in interest from it over the next 15 years. How much money should Nate invest in this account to meet this goal?a.$1,279.26b.$4,369.26c.$4,373.77d.$7,463.77

How can simple interest make saving money easier?a.Because it is simple, you have to do fewer calculations than if you saved money without it.b.Simple interest allows your money to earn money, so you have to save less.c.You are more motivated to reach goals that you are interested in, so you are less likely to abandon your savings plan.d.A bank with a simple interest savings plan will automatically transfer money from your paycheck to your savings account, letting you save without any extra effort.

Read these excerpts from The Strange Case of Dr. Jekyll and Mr. Hyde.Excerpt 1, from Chapter 1:[A]ll these were points against [Hyde], but not all of these together could explain the hitherto unknown disgust, loathing and fear with which Mr. Utterson regarded him. "There must be something else,” said the perplexed gentleman. "There is something more, if I could find a name for it. God bless me, the man seems hardly human!Excerpt 2, from Chapter 8:"Ay, ay,” said the lawyer. "My fears incline to the same point. Evil, I fear, founded—evil was sure to come—of that connection. Ay truly, I believe you; I believe poor Harry is killed; and I believe his murderer (for what purpose, God alone can tell) is still lurking in his victim’s room. Well, let our name be vengeance.

Read these excerpts from The Strange Case of Dr. Jekyll and Mr. Hyde.Excerpt 1:I had but to drink the cup, to doff at once the body of the noted professor, and to assume, like a thick cloak, that of Edward Hyde. I smiled at the notion;it seemed to me at the time to be humourous; and I made my preparations with the most studious care.Excerpt 2:Now, however, and in the light of that morning's accident, I was led to remark that whereas, in the beginning, the difficulty had been to throw off the body of Jekyll, it had of late gradually but decidedly transferred itself to the other side. All things therefore seemed to point to this; that I was slowly losing hold of my original and better self, and becoming slowly incorporated with my second and worse.

Which sentence uses indirect characterization?

June has a savings account with an annual simple interest rate of 2.6%. She hopes to gain $6,500 in interest over a period of eleven years. To accomplish this, June invested $17,801 in the account, but later realized that this was not enough money. To the nearest dollar, how much more money should June have initially invested to reach her goal?a.$6,335b.$3,715c.$1,409d.$4,926

In the formula I=P·r·t, what does P stand for?a.Percent: the interest rate expressed as a percentageb.Principal: the amount of money you initially investedc.Period: how often the interest is calculatedd.Payout: how much money you end up with

Gina invests $1,677 in an account paying 8.61% simple interest annually. How much interest has Gina gained after six years?a.$668.65b.$240.65c.$866.34d.$2,543.34

Olivia deposits $6,952 in a savings account paying 3.72% interest. To the nearest dollar, how much money does Olivia have in total after sixteen years?a.$4,138b.$8,568c.$11,090d.$29,901