May. 15, 2010, Leven Corp. negotiated a short-term loan of $703,000. The loan is due Oct. 13, 2010, and carries a 7.04% interest rate. Use ordinary interest to calculate the interest. What is...
May. 15, 2010, Leven Corp. negotiated a short-term loan of $703,000. The loan is due Oct. 13, 2010, and carries a 7.04% interest rate. Use ordinary interest to calculate the interest. What is...
An initial investment of $205.50 is worth $413.75 after 11 years of continuous compounding. Find the interest rate.
question about simple interest.
I have no idea how to start this. Please help. Oppenheimer has a mutual fund where an investment of $5000 at an annual interest rate of 10% compounded semianually over 25 years...
Walt made an extra $10,000 last year from a part-time job. He invested part of the money at 2% and the rest at 3.75%. He made a total of $270.00 in interest. How much was invested at 3.75%?
Don James wants to invest $57,000 to earn $1593 per year. He can invest in B-Rated Bonds paying 3.4% per year or in a Certificate of Deposit (CD) paying 1.9% per year. How much money should be invested...
At what nominal rate, compounded monthly, would $10,000 have to be invested to amount to $16,000 in 6 years?
Need to know for my math course
You find that the going rate for a home mortgage with a term of 30 years is 4.5% APR. The lending agency says that based on your income, your monthly payment can be at most $750 . How much can you...
assume that all interest rates are compound continously
A bank loaned out $9,500, part of it at the rate of 3% annual interest, and the rest at 4% annual interest. The total interest earned for both loans was $325.00. How much was loaned at each rate?...
what's the formula?
$6,000 account yields a 5.00% interest rate. How much must be added to this account so the total interest yields amounts to $1,000
The annual interest on a $6000 investment exceeds the interest earned on a $1000 investment by$517. The $6000 is invested at a 0.7% higher rate of interest than the $1000. What is the interest rate...
An investment of $6,000 is earning 4% interest compounded annually. How long will it take for the investment to double? (Round your answer the whole number)
unsure how to set up. i keep getting fractions.
An investment is of $4,600 is made at an annual simple interest rate of 6.8%.How much money must be invested at an simple interest rate of 9% so that the total interest earned is 8% of the total investment...
Diana invested $3000 in a savings account for 3 years. She earned $450 in interest over that time period. What interest rate did she earn? Use the formula I=Prt to find your answer, where I is interest,...
Suppose you want to have enough money in the bank 45 years from now (when you retire) so that the interest on the account would be enough to live on each year from then on. If you'll need $80,000...
What is the flat rate of interest per annum if a car is $15790 and is paid with a $500 deposit and $92 per week over 5 years?