Iris has an investment worth $8,813. She made her only deposit in it seven years ago. Given that the investment yields 3.7% simple interest annually, how big was the initial deposit?a.$1,806b.$2,282c.$4,095d.$7,000
Ike invests $7,660 in an account paying 7.27% simple interest annually. How much interest has Ike gained after four years?a.$222.75b.$2,227.53c.$1,392.20d.$13,922.05
Henry and Walter open savings accounts at the same time. Henry invests $6,500 at 4.54% simple interest, and Walter invests $7,100 at 4.74% simple interest. After eight years, how much more interest has Walter earned than Henry?a.$331.52b.$420.67c.$631.52d.$719.59
Nicole deposits $2,136 in a savings account paying 5.36% interest. To the nearest dollar, how much money does Nicole have in total after nine years?a.$213b.$1,030c.$1,272d.$3,166
Arthur has $19,500 to invest, and wishes to gain $8,000 in interest over eleven years. Approximately what is the minimum simple interest rate that Arthur needs to achieve his goal?a.2.64%b.3.04%c.3.72%d.4.51%
In the formula I=P·r·t, what does r stand for? a. Rate: the percent that interest is paid annually as a decimal b. Ratio: the size of the interest interval compared to time c. Return: how much money you end up earning d. Reserves: how much money you have in the investment Please select the best answer from the choices provided
If you wish to calculate the interest on an investment with a rate of 6.17%, what number will you plug into your equation?a.0.00617b.0.0617c.0.617d.6.17
If you invest $8,600 at a 3.95% simple annual interest rate, approximately how long will it take for you to have a total of $21,000? a. 25.3 years b. 36.5 years c. 45.9 years d. 60.7 years Please select the best answer from the choices provided
Which of the following investments will earn the smallest amount of interest?a.$8,030, invested for 2 years at 2.0% interestb.$1,901, invested for 8 years at 4.0% interestc.$5,330, invested for 6 years at 2.0% interestd.$3,970, invested for 6 years at 4.0% interest
Abigail has an account that pays 6.92% simple interest per year and wants to accumulate $5,896 in interest from this account over six years. How much money should Abigail invest in this account to meet this goal?a.$2,448.02b.$8,344.10c.$14,200.39d.$20,096.67
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