What is the balance after 2 years on a CD with an initial investment of $2,600.00 and a 3.2% interest rate? A. $2,766.40 B. $2,606.40 C. $2,769.06 D. $8,320.00

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Q: Mr. John borrows money from a friend with simple interest of 12%, find the present worth of $25,000…

A: If the interest is simple, then the formula used is A=P(1+rt), where A is the final amount, P is the…

Q: mple mteiest was eanmed of deposit earned an interest rate of %.

A: In this question, the concept of Simple Interest is applied. Simple Interest Simple interest is a…

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A: Rate of interest =8%, time= 2 years,  S.I.= 1200.  To Find the deposit amount..

Q: Find the total interest paid of the loan if the amount borrowed is OMR 25,000 at 5% interest for 8…

A: I am using Simple Interest formula for this. S.I.=(25,000*5*8)/100 S.I.=OMR 10,000

Q: Mary deposits $9,000 in a bank account that guarantees a simple interest rate of 7.5% per year. How…

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Q: John invests $1,500 at 6% annual interest compounded continuously. How much is in the account after…

A: We can make it easier to get it.

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Q: Determine the interest earned if $87000 is invested at 1.7% simple interest for 47 months.

A: .

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Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

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Q: Find the interest on P15, 000 at 6 ¼ % simple interest for 15 months. O A. P637.50 O B. P781.25 O C.…

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Q: You invest $10,000 in the Big Delta mutual fund. Over 5 years, your investment grows in value to…

A: According to the given data Initial investment is $10000 After 5 years it becomes $17320 That means…

Q: An individual borrowed ​$78,000 at an APR of 3​%, which will be paid off with monthly payments of…

A: HERE GIVEN MONTHLY PAYMENT IS MADE FOR 22 YEARS IT MEANS 12 PAYMENTS PER YEAR. AND OTHER DETAILS ARE…

Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 9% interest. How…

A: Given, Future value (FV) = $800,000 Rate of interest (r) = 9% Time (t) = 30 years n = 12 ( months)…

Q: If you decide to deposit $96 per month into an account earning 4.8% annual interest compounded…

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Q: Find the total amount in Mr. G’s account, if he invests $9000 for 5 years at a 6% interest rate.  A.…

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Q: Richard spends $22.72 every month into mortgage at the end of 30 years he has a balance of…

A: Amount spends by Richard every month = $22.72 Time period of amount spent in months = no. of years *…

Q: Determine the total value of an investment of $4750 invested at 9.7% simple interest for 8.25 years.

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Q: $1,900 was borrowed at a simple interest rate of 2.9%. What amount of interest would be owed after…

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Q: Use PMT = . Round to the nearest dollar. Suppose that you borrow $10,000 for four years at 7%…

A: To Find: The monthly payments and the total interest for the loan.

Q: You will deposit $1,675 into an account that earns 2.35 percent interest in two years. If you…

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Q: Assume a six-month CD purchased for $5000 pays simple interest at an annual rate of 9.5%. How much…

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Q: A bank pays 7% interest on 3-year certificates of deposit. What is the value of a $500 certificate…

A: topic - interest

Q: Determine the interest earned if $5000 is invested at 4.3% simple interest for 9 years.

A: We have direct formula for simple interest.