Question
a) Bill invested $600 in an account paying 7 . 2% simple interest per year for 4 years. What will Bills maturity value be at
a) Bill invested $600 in an account paying 7.2% simple interest per year for 4 years. What will Bills maturity value be at the end of 4 years?
b) If Martin invests his money and earns 8.2% simple interest for 3 years, how much would he need to initially deposit in order to make $150 in interest?
c) Thomas would like to go to Hawaii. He already has $10,000 saved for the trip but needs an additional $1500. He would like to go on his trip in 9 months. What simple interest rate does Thomas need to earn if he is to leave for his trip on time?
d) Anna has $5400 invested in an account earning 5.25% simple interest. How long will it take her to earn $335 in interest?
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