An account that yields 6% simple interest annually has $2,000. How much will be in the account after 3 years if no other deposits or withdrawals are made?

Q: An amount of money was invested at simple interest amounts to ₱815 in 3 years and ₱854 in 4 years.…

A: here on using the formula Amount = principle + simple interest ,we will get the invested money

Q: Twenty years after purchasing shares in a mutual fund for $5900, the shares are sold for 11,300. The…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: A certain gulf club spent 4/11 of their yearly budget on a banquet party they threw. If they still…

A: We will find the solution in the following step

Q: Lucy deposits $3000 into an account that pays simple interest at a rate of 3% per year. How much…

A: Simple interest formula for an amount of P at an interest rate of r% for t years is given by;…

Q: A recent college graduate moves back in with their parents and invests their entire first-year…

A:

Q: If you want to earn 14% annual simple interest on an investment, how much should you pay for a note…

A: We Have Interest= Principal * rate * time(in years). Interest = 6200 Rate=14/100 and time= 6 months…

Q: Audrey deposited $12,000 into an account paying 5% interest compounded twice a year. How long will…

A:

Q: If you pay your friend 15$ each month for 20 months to repay a loan, what is the total cost of the…

A: Explanation of the answer is as follows

Q: A bank account uses simple interest. If 10,000 is deposited at a rate of 4% interest, how much money…

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Q: A bank loaned out $15,000, part of it at the rate of 6% per year and the rest at 14% per year. If…

A: Consider, x be the part loaned at 6% y be the part loaned at 14% Bank loaned out $15,000 According…

Q: Suppose you spend $12 a week on snacks. If you donate half that amount to a charity, how much will…

A: Given that, you spend $12 a week on snacks.

Q: If you deposit $300 now in a savings account and increase your deposits by 10% each month, how much…

A:

Q: A bank loaned out $14.000, part of it at the rate of 7% per year and the rest at 17% per year. If…

A: Let the sum given at 7% of interest be x Therefore the sum given at 17% of interest = $14000-x The…

Q: Michelle Payne deposited $12,000 in a savings account paying 6.25% simple interest. How long (in…

A: Let it will take t years to be a amount of $12,000 deposited in a accountunit 6.25%.Simple interest…

Q: Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and the other…

A: We will use: If P dollars is invested at a yearly rate of interest r per year, compounded m times…

Q: A BANK LOANED OUT $11000, part of it at tge rate of 8% per year and the rest at 18% per year. if the…

A: In this question we have to find the amount which is loaned out at 8%.

Q: How much final amount would Abraham receive if he invest P100,000 for 1 year and 3 months at 11%…

A: Use the formula to calculate the simple interest as follows:

Q: Jay and Sybil are purchasing a home. They wish to save money for five years and purchase a house…

A:

Q: A bank loaned out $600,000, a part of it at the rate of 12% per year and the rest at a rate of 6%…

A: Let the amount loaned at 12% be: x Let the amount loaned at 6% be: y Total amount loaned out is: $…

Q: Susie is paying 594.16 every month for her 150,000 mortgage. If this is a 30 year mortgage, how much…

A: The monthly amount Susie paying per month = 594.16Total mortgage = 150,000The time period of…

Q: A bank loaned out $120000 part of it at the rate of 8% per year and the rest at rate of 12% per…

A: topic - percentage

Q: A bank loaned out $12,000, part of it at the rate of 8% per year and the rest at the rate of 18% per…

A: A bank loaned out $12,000, part of it at the rate of 8% per year and the rest at the rate of 18% per…

Q: If Damon invests $1600 for 1 year in a savings account that pays a simple interest rate of 1.09%…

A: Definition used -            Simple interest -                            SI=Prt100…

Q: A payday loan is made for four weeks, where the amount of interest owed per $⁢100 borrowed is $10.…

A: Principal = $800 Time period for the loan = 4 weeks Amount of interest owed per$100 is $10   Total…

Q: How much interest will Roxanne have to pay if she borrows $1000 for 2 yr at a simple interest rate…

A:

Q: Connor bought a house for $215,000.00, paying 10% down, financing the rest at 7% interest for 25…

A: The objective is to find monthly payment and interest over the life of loan.

Q: If 100,000 php is deposited in a bank that grows 4% interest discretely, how much will it be in 5…

A:

Q: If the rate of interest in Example 2 was 6% instead of 1.2%, how much will the account have after 24…

A: Principal Investment (P) =$1000 Rate of interest (R) = 6% per annum = 612% per month=12% per month…

Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How many years will it…

A: Formula: Simple interest                    SI=PTR100            Where SI- Simple interest…

Q: If you want to earn 5% simple interest, how much should you pay for a note that will be worth…

A:

Q: Susie is paying $531.8 every month for her $150,000 mortgage. If this is a 30 year mortgage, how…

A: Consider the given question,Total mortgage = $150,000 Monthly payment of Susie = $531.8Total time of…

Q: If you would like to make $2236 in 8 years, how much would you have to deposit in an account that…

A:

Q: if $120 double in approximately 11 years, what is the interest rate

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Q: If I have $500 in my account after 4 years of investing at 2.5% per year, how much money did I start…

A:

Q: A bank offers a CD that pays a simple interest rate of 5%. How much must you put in this CD now in…

A: First, always look for what you are asked to find. Here it is how much you must put into a CD.…

Q: A man repays a loan of $3250 by paying $ 20 in the first month and then increases the payment by $15…

A: Let the loan is cleared in n months . Clearly, the amount form an A.P with first term is 20 and the…

Q: The cost of a particular private school inclues a one-time initiation fee of $2,000, plus annual…

A: It is given that one-time initiation fee is $2,000 and annual tuition fee is $10,000.The initiation…

Q: Banks will often loan businesses large sums of money for short periods of time. If a company needs a…

A:

Q: Zach invested in a term deposit that paid 4% per annum and in a municipal bond that paid 6% per…

A: Given: Zach invested in a term deposit that paid 4% per annum and in a municipal bond that paid 6%…

Q: Jimmy deposits $4000 at a bank with an interest rate of 4.5% per year and he has no plans of…

A: From the given information, the principal investment is P=$4000, interest rate r=0.045, and n=1 and…

Q: How many days did it take Romy to place 120,000 in an investment house that pays 8% simple interest…

A: If p= principal amount R= rate of interest t= time And I is the interest after time t at a r% rate…

Q: On April 2014, you could buy a 3030-year U.S. Treasury note for $20,000 that pays 4.174.17% simple…

A: Given information P=$20,000r=4.17%t=30 years Formula used:-  Simple interest=P×r×t100

Q: An executive invests $22,000, some at 6% and the rest at 5% annual interest. If he receives an…

A: Let the investment at 6% = $xSo,Investment at 5% = $(22,000-x)Interest for 6% = $6x100Interest for…

Q: Stefan borrowed $8,950 for an engagement ring. At a 6.85% simple interest rate, how much total will…

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Q: If you paid $54 to a loan company for the use of $1,040 for 42 days, what annual rate of interest…

A: We will use the Simple Interest Formula to calculate the annual rate of interest. Simple Interest…

Q: With 1500.00 I opened a savings account in a bank that offered me a monthly interest rate of 0.5%.…

A: Given: P = $1500.00, r = 0.5% p.m., n = 12

Q: A bank pays 6 % interest annually on savings, compounding the interest yearly. If we deposit $1000,…

A: Consider the given information.

Q: If $520 is invested for one year at 13% simple interest, how much interest is earned? The simple…

A: The objective of the question is determine the simple interest.

Q: How much did the client borrow at 5% compounded annually when he settled his obligation of P85,300…

A: Compound hobby (or compounding hobby) is the hobby on a mortgage or deposit calculated primarily…

Q: A man invested 50,000 in an investment entity that pays 5 3/8 % simple interest for 3 years and 7…

A: