A S1,200 bond earns 3% simple interest per year on its purchase price. What is the amount of interest earned after 15 months?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 15PT: Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest,...
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Ana opened a savings account witha principal
balance of $2,250 and will not make any additional
deposits or withdrawals. The account earns 2.4%
interest compounded annually. What is the total
amount that Ana will have in her account at the end
of 6 years?
Lianna opens a savings account with an initial
deposit of $125. The account earns 2 2% interest
compounded annually. No additional money will be
deposited or withdrawn from the account. What is
the total amount in Glanna's account at the end of 4
A S1,200 bond earns 3% simple interest per year on
E its purchase price. What is the amount of interest
E earned after 15 months?
years?
Jillian's grandparents gave her $3,000 to save unti
she starts college in four years. Her grandparents
agreed to pay her an additional 6.5% simple interest
on the $3,000 every year. How much interest will
Jillian's grandparents give her at the end of 4 years?
Sami opens an account with a principal balance of
S3,200. The account earns 4.75% Interest
compounded annually. No additional money is
deposited or withdrawn from the account. Saml
checks the balance of the account at the end of 5
6 Marlon's parents set aside an amount of money when
he was born. They earned 6.25% simple interest on
that money each year. When Marlon was 18, the
account had earned $2,812.50 In Interest. How much
money did Marlon's parents set aside when he was
born?
years. What is the amount of interest earned at the
end of 5 years?
Solve ALL six problems. Type your answer in the boxes provided!
imple Cempound Interest
S.12D
Transcribed Image Text:nat Slide Arrange Tools Add-ons Help Last edit was 8 nminute. Arial 11 BIUA .. Ana opened a savings account witha principal balance of $2,250 and will not make any additional deposits or withdrawals. The account earns 2.4% interest compounded annually. What is the total amount that Ana will have in her account at the end of 6 years? Lianna opens a savings account with an initial deposit of $125. The account earns 2 2% interest compounded annually. No additional money will be deposited or withdrawn from the account. What is the total amount in Glanna's account at the end of 4 A S1,200 bond earns 3% simple interest per year on E its purchase price. What is the amount of interest E earned after 15 months? years? Jillian's grandparents gave her $3,000 to save unti she starts college in four years. Her grandparents agreed to pay her an additional 6.5% simple interest on the $3,000 every year. How much interest will Jillian's grandparents give her at the end of 4 years? Sami opens an account with a principal balance of S3,200. The account earns 4.75% Interest compounded annually. No additional money is deposited or withdrawn from the account. Saml checks the balance of the account at the end of 5 6 Marlon's parents set aside an amount of money when he was born. They earned 6.25% simple interest on that money each year. When Marlon was 18, the account had earned $2,812.50 In Interest. How much money did Marlon's parents set aside when he was born? years. What is the amount of interest earned at the end of 5 years? Solve ALL six problems. Type your answer in the boxes provided! imple Cempound Interest S.12D
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