Question
1.Janelle invests $18,000 at 8% simple interest for 41 years. How much is in the account at the end of the 41-year period? 3.Kristina invests
1.Janelle invests $18,000 at 8% simple interest for 41 years. How much is in the account at the end of the 41-year period?
3.Kristina invests $13,000 at 7% simple interest for 32 years. How much is in the account at the end of the 32-year period?
5. How much would you need to deposit in an account now in order to have $2,000 in the account in 15 years? Assume the account earns 6% simple interest
7.Janelle wants to invest $500 in a saving account that pays 4.3% simple interest.
How long will it take for this investment to double in value? Round your answer to the nearest cents.
9. You deposit $300 in an account earning 5% interest compounded annually. How much will you have in the account in 10 years?
11. You deposit $9,400 in an account earning 4% interest compounded semiannually. How much will you have in the account in 5 years?
13. You deposit $4,000 in an account earning 8% interest compounded monthly. How much will you have in the account in 10 years?
15. You deposit $2,000 in an account earning 3% interest compounded monthly.
a. How much money will you have in the account in 20 years?
b. How much interest will you earn?
17. You deposit $5,300 in an account earning 5% interest compounded quarterly. How much will you have in the account in 6 years?
19. You deposit $3,000 in an account earning 8% interest compounded quarterly. How much will you have in the account in 10 years?
21. How much would you need to deposit in an account now in order to have $2,500 in the account in 5 years? Assume the account earns 2.5% interest compounded monthly.
23. How much would you need to deposit in an account now in order to have $20,000 in the account in 10 years? Assume the account earns 7% interest compounded quarterly.
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