Question
Suppose you invest $9,500 at a 11.35 % annual rate of interest compounded semiannually for a period of one year. How much will you have
Suppose you invest $9,500 at a 11.35 % annual rate of interest compounded semiannually for a period of one year.
How much will you have at the end of one year assuming all interest is reinvested? Round your answer to the nearest penny.
Jolene takes out a Discounted Simple interest Loan that requires her to pay back a total amount of $720 after 16 months. The loan carries a 11.1 % simple annual interest rate.
What is the dollar amount of Interest she pays ? $
What are the Proceeds she gets at time t = 0? $
Josh and Jenna are each investing $7,000.00 in certificates of deposit (CDs) that mature in 5 years and both carry a 9.52 % annual rate of interest.
However, their investments have different compounding periods.
A. Josh's investment compounds quarterly. Find the accumulated value of his investment?
B Jenna's investment compuonds monthly. Find the accumulated value of her investment?
Shaquille has $255,000 and his investment goal is to have it accumulate to $280,500 in 26 months. He is going to put his monely in a bank that compounds interest monthly. What nominal annual rate does he need to achieve his investment goal. Express your answer as a percentage with two decimals.
Margo makes an investment $1,700, which will pay her a 5.80 % annual simple interest rate for 11 months. How much interest will she gain?
Round your answer to the nearest cent.
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