sumzcts sumzcts

01-10-2022
Mathematics

Answered

4) A person wants to invest $150000 dollars and the credit union offers an interest of 7.5% per annum.

(a) Calculate how many years it will take for the AMOUNT of money to cross $200 000 when using simple interest.

(b) If the interest is compounded annually, how much money the person would have gotten for the same time in question 4(a)? Use the compound interest formula?

Answer :

Other Questions

Jane deposited $20 000 in a bank and earned simple interest at a 4.5% per annum. Calculate the amount received after 3 years.

What rate of interest compounded annually is required to triple an investment in 26 years? (Round to two decimal places as needed)

Vince takes out a loan of £400. It gathers simple interest as shown in the table below. < Back to task Work out the annual interest rate as a percentage (%).

Suppose that you decide to buy a car for $58,000, including taxes and license fees. You saved $13,000 for a down payment. The dealer is offering you a choice b

You plan to purchase a house for 425,000$ and you will make a 20% down payment. You will finance the balance with a 30 year fixed mortgage at 2.77%. A. What wi

Ryan wishes to purchase a new boat and can afford monthly payments of up to $600 per month. Finance is available, and the terms are that the loan lasts for 10 y

If | 8x -2 | < 4, Which of the following is true of x? Explain as well. A. -0.75 < x < 0.25 B. -0.25 < x < 0.75 C. 0.25 < x< 0.75 D. x >

A statistics professor is interested in finding out if there's a relationship between the final exam scores in Statistics 102 and the final exam scores of the s

Solve for x. Round your answer to the nearest tenth if necessary. Figures are not necessarily drawn to scale. J 28 34° 49° 97⁰ L 16 K Answer: = Submit Answer O

What are the measures of the missing angles? 65° 7 5 8 2 3 1 4