Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

questions 1-4 please 1. You put $120 in an account that pays 2.5% simple interest. a. How much would you make in interest at the

questions 1-4 please

image text in transcribed
1. You put $120 in an account that pays 2.5% simple interest. a. How much would you make in interest at the end of 18 months? b. How much would be in your account at the end of 18 months? 2. You borrow $300 from a friend and pay her back $381 after 2.5 years what was the simple interest rate? 3. You need $1800 six years from now. a. How much should deposit in an account now at 9% compounded quarterly to reach that goal? b. How much would you have made in interest at the end of the 6 years? 4. You deposit $50 each month in an account that pays 4.2% compounded monthly. a. How much is in in your account after 10 years? b. How much did you make in interest after the 10 years

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quantitative Analysis For Management

Authors: Barry Render, Ralph M. Stair, Michael E. Hanna

11th Edition

9780132997621, 132149117, 132997622, 978-0132149112

Students also viewed these Mathematics questions