Marcus receives an inheritance of $13,000. He decides to invest this money in a 15-year certificate of
Question:
Marcus receives an inheritance of $13,000. He decides to invest this money in a 15-year certificate of deposit(CD) that pays 4.5% interest compounded monthly. How much money will Marcus receive when he redeems the CD at the end of the 15 years?
A farmer recently purchased her neighbor's farm. Before thepurchase, the farmer owned a total of
355 acres of land. After thepurchase, she owned a total of 501 acres of land. Determine the percent increase in the number of acres of land owned by the farmer.The number of acres of land owned by the farmer increased by about
You are given a choice of taking the simple interest on $100,000 invested for 2 years at a rate of
4% or the interest on $100,000 invested for 2 years at an interest rate of 4% compounded monthly.
Which investment earns the greater amount ofinterest? Give the difference between the amounts of interest earned by the two investments. The investment with single/compound interest earns $ more in interest .