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the interest. 1. Principal: $750.00; annual interest rate: 5 percent. What is the interest after 6 months? 2. Principal: $1.265.00: annual inte

the interest. 1. Principal: $750.00; annual interest rate: 5 percent. What is the interest after 6 months? 2. Principal: $1.265.00: annual inte

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Practice Calculate the interest. 1. Principal: $750.00; annual interest rate: 5 percent. What is the interest after 6 months? 2. Principal: $1,265.00; annual interest rate: 5.75 percent. What is the interest after 1 month? 3. Principal: $2,245.98; annual interest rate: 5.545 percent. What is the interest after 3 months? 4. Josh Humphrey deposited $950.00 into his new savings account. No other deposits or withdrawals were made. After 2 months, interest was computed. How much simple interest did he earn if the bank pays an annual percentage rate of 4.75 percent? Use the following information to answer questions 5-7. Dyrell Lewis opened a savings account on January 1st at Savings and Loan with a $625.00 deposit. Interest is calculated on a monthly basis at an annual rate of 5.625 percent. 5. What was the interest at the end of the first month? 6. If he deposits an additional $350.00 on February 1st, what is his interest for the second month? 7. How much total interest has Lewis's account earned through February? 8. Standardized Test Practice On June 1st, Gabriel Ramirez opened a savings account at First Bank. His initial deposit was $600.00. The bank pays an annual interest rate of 4.65 percent and calculates interest on the last day of every month. Assuming Ramirez makes no other deposits or withdrawals, what is his balance on June 30th? A. $27.90 B. $2.33 C. $627.90 D. $602.33
Transcribed Image Text:Practice Calculate the interest. 1. Principal: $750.00; annual interest rate: 5 percent. What is the interest after 6 months? 2. Principal: $1,265.00; annual interest rate: 5.75 percent. What is the interest after 1 month? 3. Principal: $2,245.98; annual interest rate: 5.545 percent. What is the interest after 3 months? 4. Josh Humphrey deposited $950.00 into his new savings account. No other deposits or withdrawals were made. After 2 months, interest was computed. How much simple interest did he earn if the bank pays an annual percentage rate of 4.75 percent? Use the following information to answer questions 5-7. Dyrell Lewis opened a savings account on January 1st at Savings and Loan with a $625.00 deposit. Interest is calculated on a monthly basis at an annual rate of 5.625 percent. 5. What was the interest at the end of the first month? 6. If he deposits an additional $350.00 on February 1st, what is his interest for the second month? 7. How much total interest has Lewis's account earned through February? 8. Standardized Test Practice On June 1st, Gabriel Ramirez opened a savings account at First Bank. His initial deposit was $600.00. The bank pays an annual interest rate of 4.65 percent and calculates interest on the last day of every month. Assuming Ramirez makes no other deposits or withdrawals, what is his balance on June 30th? A. $27.90 B. $2.33 C. $627.90 D. $602.33
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