1.How long will it take $3,000 to accumulate to $3,500 in a bank savings account at 0.25% compounded every month? 2.How long will it take
1.How long will it take $3,000 to accumulate to $3,500 in a bank savings account at 0.25% compounded every month?
2.How long will it take for $36 000 to earn $10 326 interest if it is invested at 8 % simple interest?
3.Accumulate $4,500 for 15 months at 27.2% simple discount rate.
4.Find the exact and approximate interest at 9% on $13 277 from March 15, 2018to August 22, 2019.
5.How much should Kiko set aside and invest in a fund earning 2.5% compounded every six months if she needs $75,000 in 15 months?
6.At what nominal rate compounded every two months will $10,000 accumulate to $15,000 in 10 years?
7.A cylindrical tank holds 1,540 cubic feet of water. The base is a circle with a 7-foot diameter. What is the height of the cylinder?
8.Suppose that you have $80,000. You decided to deposit it on a bank and will not withdraw from it for 10 years. A bank offers two types of compound interest accounts. The first account offers 6% interest compounded monthly. The second account offers 6.5% interest compounded semi-annually. Which account will you choose if you want your money to earn more?
9.Over a 4-year period, Bernard invested $50,000 at 7.2% converted quarterly during the first year, 7.2% semi-annually during the second year, 7.2% monthly during the third year and 7.2% daily during the fourth year. Find the final amount.
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