Question
are all these right? and could you help me answer number 2 and the last column in the chart on number three Use the equation
are all these right? and could you help me answer number 2 and the last column in the chart on number three
Use the equation above to answer the questions in the table below.
- Calculate the interest earned and the total amount earned.
| Principal | Rate | Time | Interest Earned | Interest Earned Plus Principle |
| $500.00 | 4% | 5 years | $100 | $600.00 |
| $180.00 | 3.5% | 3 years | $18.90 | $198.90 |
| $780.00 | 7% | 2 years | $109.20 | $889.20 |
- James deposits $900.00 in a savings account at Wachovia Bank. The account pays an annual interest of 5 % (5.5%). If he does not make any other deposits or withdrawals, how much will he earn in interest after 3 months? What will his new total be?
- Calculate the interest earned and the total amount earned.
| Principal | Rate | Time | Interest Earned | Interest Earned Plus Principle |
| $100.00 | 5.5% | 6 months | $33 | $133.00 |
| $8,796.00 | 12% | 24 months | $2533.24 | $11392.24 |
| $7000.00 | 7 3/8% | 15 months |
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Finance With Monte Carlo
Authors: Ronald W. Shonkwiler
2013th Edition
146148510X, 978-1461485100
