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1. A $25,000 investment earned 0.25% per month simple interest for a three-month term. What total amount of interest was earned?

1. A $25,000 investment earned 0.25% per month simple interest for a three-month term. What total amount of interest was earned?

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Please answer questions 14, 15 and 16 accurately to the nearest cent or two decimal places. Thank you. 

14. A $25,000 investment earned 0.25% per month simple interest for a three-month term. What total amount of interest was earned? 15. How much must be placed in a five-month term deposit earning 4.3% simple interest in order to earn $500 interest? 16. A five-month term deposit of $10,000 at Scotiabank earned $175 in interest. What annual rate of simple interest did the deposit earn?
Transcribed Image Text:14. A $25,000 investment earned 0.25% per month simple interest for a three-month term. What total amount of interest was earned? 15. How much must be placed in a five-month term deposit earning 4.3% simple interest in order to earn $500 interest? 16. A five-month term deposit of $10,000 at Scotiabank earned $175 in interest. What annual rate of simple interest did the deposit earn?
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