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Interest Rates Answers

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Rita contributed $7000 per year from her salary to a 401(k) plan when she was between the ages of 22 and 28. Her employer matched it 50% on her behalf. The interest rate is 8.6% compounded annually...

Peter deposited a sum of money in SouthEast Bank. The money grew to $1300 in 8 months. SouthEast Bank pays simple interest at the rate of 6% per year. How much did Peter deposit?

James borrowed $700.00 to purchase an Apple watch and an IPad mini. The loan required 24 monthly payments of $35.00. However, he paid off the loan in 16 payments. How much did he save by paying it...

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