A bank account increases the amount of money in the account by 4% each year. Initally, $1,500 is invested in the account. How much money is in the account after 5 years?

Q: Tommy has a new job and decides to put $250 each month into a savings account that pays 5.2% monthly…

A: Given that Tommy has started a new job and decides to put $250 each month into a savings account…

Q: $3280 at 0.3%. simple interest paid back in 9 years how much was paid in total?

A:

Q: You deposit $3000 each year into an account earning 3.1% interest. How much will you have in the…

A: Given Information Principal P = $3000 Interest rate R = 3.1%

Q: You deposit $980 in a savings account paying 3.8% simple interest. How much interest will you earn…

A:

Q: Aman earns N150,000 per annum. He is allowed a tax free pay ofN40,000. fhe pays 25 kobos in the…

A: Since Kobo is the monetary unit in Nigeria, equal to on hundredth of Naira.  So We have Total annual…

Q: Lenders such as banks, credit unions, and mortgage companies make loans. The person receiving the…

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Q: You have $10,000 to deposit in a savings account that earns simple interest at a rate of 4.5% per…

A:

Q: You deposit $5000 each year into an account earning 4.1% interest. How much will you have in the…

A: Please find the answer in next step.

Q: How much would you need to deposit in an account now in order to have $6000 in the account in 10…

A: See the attachment

Q: $350 is borrowed at a rate of 2.5% simple interest for 3 years. How much interest will be paid?

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Q: Suppose you spent $800 on clothing in the past six months. Suppose you save this same 20% each year…

A: Given that, The total cost of clothing is $800. Now, saving 20% of $800 in a year is, 20100×800=$160

Q: You deposit $1550 in a savings account paying 3.7% simple interest. How much interest will you earn…

A:

Q: Judah is going to deposit $5000.00 in and account that earns 4% interest for 20 years. How much more…

A:

Q: A bank features a savings account that has an annual percentage rate of 5.4 % with interest…

A: P = $ 5500 APR = 0.054

Q: Write an expression that shows the vaule of $3750 after it has grown by 3.8% per year for 9 years?

A: compound interest = A1+R100T

Q: A person has ​$1,264 in your bank account that is paying an interest rate of 2.7​% ​(0.027​) per…

A: image is attached

Q: You deposit $1500 in a savings account paying 4% simple interest.How much interest will you earn in…

A: The objective of this question is to calculate the simple interest earned over a period of 7 years…

Q: Alewuya invests $3,000 at 2% simple interest for 1 year. How much is in the account at the end of…

A: Given, Principal amount (P) = $3,000 Interest rate (r) = 2% Time (t) = 1 year   Introduction: Simple…

Q: We invest $5500 in an account that pays simple interest of 3% each year. How much interest is earned…

A: Formula: The formula that represents the simple interest is: I=PRT100 I is the interest. P is the…