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1. What is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.08 $8.16 $4.00
1. What is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually?
$8.00 $4.08 $8.16 $4.00
2. What is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually?
$24.00 $8.00 $16.64 $25.97
3. A business just took out a loan for $100,000 at 10% interest. If the business pays the loan off in three months, how much did the business pay in interest?
$2,500.00 $10.00 $250.00 $10,000.00
4. What is the annual percentage yield (APY) for a deposit paying 5 percent interest with monthly compounding?
5.00% 5.12% 79.59% 0.42%
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