Given your $1,000 investment at 5% simple interest, how much money will you have after 2 years?
Homework Answers
Answer
We can calculate the amount with following formula
A=p (1+rt)
A=1000(1+(0.05*2)
A=1000(1.10)
A=1100
Explanation
Here, A=total amount after 2 year
P=amount you invest
R=interest rate
T=time (number of years)
Add Answer to:
Given your $1,000 investment at 5% simple interest, how much money will you have after 2 years?
Simple Interest Problem: How much money is in an account after 6 years, if you initially...
Simple Interest Problem: How much money is in an account after 6 years, if you initially deposit $838, with a simple interest of 5%? Interest is added annually.
You have $1,000 and you have 2 investment options: A) You can invest all of your...
You have $1,000 and you have 2 investment options: A) You can invest all of your money in an account that pays 5%/year or B) You can invest half of your money in an account that pays 8%, but the other half will sit in your checking account earning nothing. If you plan to leave your money in these accounts for 7 years, which one is the better investment and how much money do you have after 7 years?
Solve the problem 9) a. How much money will you have in 5 years if you...
Solve the problem 9) a. How much money will you have in 5 years if you invest $0245 at 4% interest compounded wookly? b. How much interest did the investment earn?
I. SIMPLE INTEREST: 1. How much is the amount and the accrued simple interest of $...
I. SIMPLE INTEREST: 1. How much is the amount and the accrued simple interest of $ 18,950; at 6.585% for seven years and nine months? 2. Find the difference between the exact simple interest and the ordinary simple interest when calculating $ 15,180 at 8.625% for 60 days? 3. If you deposited $ 18,750 at what%, would you accumulate an amount of $ 57,156.25 in five years? II. COMPOUND INTEREST: (annual and parts of the year) 1. Find the amount...
You have agreed to loan the owner of a library $5000 for 5 years at a simple interest rate of 8% per year. 1. How much interest will you receive from the loan? 2. How much will the library owner pay...
You have agreed to loan the owner of a library $5000 for 5 years at a simple interest rate of 8% per year. 1. How much interest will you receive from the loan? 2. How much will the library owner pay you at the end of 5 years?
You have agreed to loan the owner of a library $5000 for 5 years at a simple interest rate of 8% per year. 1. How much interest will you receive from the...
How much money(USD) do you have to invest if it earns continuous compound interest and the investment is continuously pa...
How much money(USD) do you have to invest if it earns continuous compound interest and the investment is continuously paid out to your bank account at a rate of $100,000 per year, and after 100 years the money is all used up? Interest rate is 'r', where r is whichever number leads to the smallest amount of money needed to be invested. What is the equation needed to find this answer, rather than a specific numerical answer.
80 Quantitative Reasoning,hClass Activites Lesson 8c 2% simple interest annually when computing simple interest 2% of...
80 Quantitative Reasoning,hClass Activites Lesson 8c 2% simple interest annually when computing simple interest 2% of the nitial balance of $1,000 s added to the account every year. The amount of interest eamed is the same each year 2) Suppose you invest $1,000 in a savings account that pays Part A Complete the following table of the interest and total balance in the account based on the simple interest assumption. Total Balance (B) (initial investment+ total interest) Number of Years...
Bank A and Bank B are offering you an investment. Bank A's investment pays 5% simple...
Bank A and Bank B are offering you an investment. Bank A's investment pays 5% simple interest, nile Bank B's investment pays 5% compound interest. If you invest $1,000 in Bank B's investment, w much more will you have after 10 years than if you invested in Bank A's investment?
Compounded Continuously 1. How much money will be in the account after 5 years if $2030...
Compounded Continuously 1. How much money will be in the account after 5 years if $2030 is deposited at 4% compounded continuously? 2. Determine the amount of interest earned in 5 years if $2030 is deposited at 4% compounded continuously? 3. Inflation is running at 0.8% per month when you deposit $3000 in an account earning 6% compounded continuously. In constant dollars, how much will you have 2 years from now? 4. Find the present value of $12,075 if money...
5) Archaic Bank only offers Simple Interest Accounts at 2%. If you opened an account with...
5) Archaic Bank only offers Simple Interest Accounts at 2%. If you opened an account with $1000, how much would be in your account after 5 years? 6) You open an account at another bank paying compound interest. If you put $1000 in the account and the interest rate is 2%, how much will you have after 5 years if the money is a) Compounded annually b) Compounded quarterly 7) You found an old baseball card that increasing in value...
Solve the problem 9) a. How much money will you have in 5 years if you invest $0245 at 4% interest compounded wookly? b. How much interest did the investment earn?
You have agreed to loan the owner of a library $5000 for 5 years at a simple interest rate of 8% per year. 1. How much interest will you receive from the loan? 2. How much will the library owner pay you at the end of 5 years?
You have agreed to loan the owner of a library $5000 for 5 years at a simple interest rate of 8% per year. 1. How much interest will you receive from the...
80 Quantitative Reasoning,hClass Activites Lesson 8c 2% simple interest annually when computing simple interest 2% of the nitial balance of $1,000 s added to the account every year. The amount of interest eamed is the same each year 2) Suppose you invest $1,000 in a savings account that pays Part A Complete the following table of the interest and total balance in the account based on the simple interest assumption. Total Balance (B) (initial investment+ total interest) Number of Years...
Bank A and Bank B are offering you an investment. Bank A's investment pays 5% simple interest, nile Bank B's investment pays 5% compound interest. If you invest $1,000 in Bank B's investment, w much more will you have after 10 years than if you invested in Bank A's investment?
Compounded Continuously 1. How much money will be in the account after 5 years if $2030 is deposited at 4% compounded continuously? 2. Determine the amount of interest earned in 5 years if $2030 is deposited at 4% compounded continuously? 3. Inflation is running at 0.8% per month when you deposit $3000 in an account earning 6% compounded continuously. In constant dollars, how much will you have 2 years from now? 4. Find the present value of $12,075 if money...
5) Archaic Bank only offers Simple Interest Accounts at 2%. If you opened an account with $1000, how much would be in your account after 5 years? 6) You open an account at another bank paying compound interest. If you put $1000 in the account and the interest rate is 2%, how much will you have after 5 years if the money is a) Compounded annually b) Compounded quarterly 7) You found an old baseball card that increasing in value...
Most questions answered within 3 hours.
-
Which statement is not correct?
Mutations change the sequence of nucleotides in DNA.
Mutations can be...
asked 1 hour ago -
An organization is not required to accommodate an employee's
disability when the accommodation would cause "undue...
asked 1 hour ago -
Mojo Mining has a bond outstanding that sells for $2,165 and
matures in 17 years. The...
asked 1 hour ago -
Olympic weightlifter Zoe Smith holds a 58 kg barbell over her
head, 2.1 meters above the...
asked 1 hour ago -
For sample average = 28 and a μ = 17 and a s = 4 and...
asked 1 hour ago -
A
short forward contract that was negotiated some time ago will
expire in three months and...
asked 1 hour ago -
If R = R1L2/L3, what is the measurement error dR based on the
rules of error...
asked 1 hour ago -
At equilibrium, the concentrations of N2(g),
O2 (g) and NO (g) in a sealed reaction vessel...
asked 1 hour ago -
Find P(X-bar > 15.5)
n=81, Mean=15, SD=1
asked 2 hours ago -
3. What percentage of search engine users don’t go to the next
page of search results?...
asked 1 hour ago -
Since Tanya Martin retired, she has used income from her
investment in the Alger Mid Cap...
asked 2 hours ago -
Determine the point estimate of the population proportion, the
margin of error for the following confidence...
asked 2 hours ago