Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You invest some amount of money into your savings account. Your account is earning 3.5% Simple Interest. At the end of 6 months you have

image text in transcribed

You invest some amount of money into your savings account. Your account is earning 3.5% Simple Interest. At the end of 6 months you have earned $8.75. Round your FINAL answer to the nearest penny (even if zero), USE dollar sign, USE comma as separator if needed [A] What did you originally invest? $500 Question 3 You invest $800 for 36 weeks and have $822.15 available at the end of the 36 weeks. Round to FIVE deciaml places, leave in decimal format [A] What Simple Interest Rate did you earn? 1.48444

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

Financial Management For Nurse Managers

Authors: J. Michael Leger

5th Edition

1284230937, 9781284230932

More Books

Students also viewed these Finance questions