You put $399 per month in an investment plan that pays an ApR 6%. How much money will you have after 15 years? Compare this amount to the total amount of deposits made over the time period.   Please use formula to give answer.

Q: Assume that all interest is simple interest. Ed Bland had savings of  $524  invested at  7%  for…

A:

Q: y borrows $79,500 for

A: Introduction: The formula of the simple interest rate is given by, S.I.=P×R×T100 Where P is the…

Q: Find the simple interest and total amount if you borrow $8000 at 12% for 3 years.

A:

Q: An investment pays simple interest, and doubles in 13 years. What is the interest rate? Answer =

A: Formula for simple interest is :  I = P×R×T where ,   P = Principal  Amount  R = Annual rate of…

Q: You took out a loan of $8,000 in 2015 at an interest of 6% simple interest. What is the total amount…

A: We have to solve the given question.

Q: Michelle Payne deposited $12,000 in a savings account paying 6.25% simple interest. How long (in…

A: we will use the formula of simple interest: I=p×r×t100 ---------- (i) and A=p+I ---------(ii) where,…

Q: You have $400,000 saved for retirement. Your account earns 7% interest. How much will you be able to…

A: We have to solve the given problem.