13 Answered Questions for the topic Annual Interest

05/02/18

How much was put in each account?

Lupe inherited 10000 and decide to invest she opens two accounts one pays 6.5% annual intetest and the other 5.5% annual interest at the end of the 1st year the account totaled 10582... How much... more

08/12/17

invested $4,000 in an account that paid 2.3% annual interest compounded weekly able to pay $5,000 for his new lathe. How much is in his account after 10 years?

I know the answer I just need to show the work that I don't know how to do for the problem. 

12/19/16

You deposit $300 each month into an account earning 7% interest compounded monthly. Two question help!

You deposit $300 each month into an account earning 7% interest compounded monthly.a) How much will you have in the account in 20 years?$156,278b) How much total money will you put into the... more

07/21/16

Algebra help, Income earned on an IRA investment help?

I need some help on setting up this problem, and how to find the formula to get the correct answer.. this sounds like a different language like where do I start? Can I put this in a table or a... more

07/21/16

Algebra help, Income earned on an IRA investment help?

I need some help on setting up this problem, and how to find the formula to get the correct answer.. this sounds like a different language like where do I start? Can I put this in a table or a... more

07/21/16

Algebra help, Income earned on an IRA investment help?

I need some help on setting up this problem, and how to find the formula to get the correct answer..Here it is: A retiree needs a yearly income of $13,o00 from her IRA to help fund her retirement.... more

04/28/16

You invest $4000 in an account that grows up to $6,520 in 4 years. Find the annual interest rate

Finding the annual interest rate, after 4 years, invest $4000 in an account that grows to $6,520

04/09/16

Find the base, b, for the exponential equation of the form y=a x b^x that describes each situation.

A savings account earns 2% annual interest, compounded annually. The variable y gives the amount of money in the account after x years. Find the base, b, for the exponential equation of the form... more

12/09/15

Mark invests $6,000 in an account.

Mark invests $6,000 in an account. How long will it take for the investment to double if the annual interest rate is 5.5%, compounded monthly. Round the answer to two decimal places

11/12/15

Math help with Percentages and APR

Your credit card has an annual percentage rate (APR) of 24% and a minimum payment of $10.00. If you make the minimum payment every month, use the table below to determine how long it will take to... more

10/05/15

Calculate the annualized interest rate these companies are charging if the penalty is two percent a month. What if the penalty was two percent a week?

According to an article in the Maclean’s magazine, “Cable, satellite and wireless companies may becharging illegal late fees. Companies may calculate a compounded late-fee rate of two percent a... more

09/30/15

Interest compounded annually

You place $800 in an account that earns 4% annual interest, compounded annually. How long will it be until you have $2000?

09/14/14

Investment Problems, How do you solve the problem below?

Orlando, a financial planner, recommended that 25% of a client's investment be placed in a 4% annual simple interest tax-free account, that 40% be placed in 6% certificates of deposit, and that the... more

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