1. Lauren invests $10,000 at a simple interest of 10%. How much interest will Lauren eam...

Question

Question

Answer 1

Answer #1

1. Simple Interest = Principal * Rate * Time

Simple Interest = $10,000 * 10% * 5 year

= $5,000

Total amount = $10,000 + $ 5,000

= % 15,000

2.

$75,000 = $50,000 ( 1 + 12%)^n

$ 1.5 = (1.2)^n

Taking Log

Log 1.5 = n Log 1.2

0.17609125905 = n * 0.07918124604

n = 2.22 Year

Answer 2

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