WebJun 3, 2024 · So A = 3000 ( 1 + 0.06 12) 20 × 12 = $ 9930.61 (round your answer to the nearest penny) Let us compare the amount of money earned from compounding against the amount you would earn from simple interest. Years. Simple Interest ($15 per month) 6% compounded monthly = 0.5% each month. 5. WebDiana invested $61,293 in an account with a fixed annual percent of interest, compounding quarterly. At the end of five full years, she had $76,662.25 in principal plus interest. …

Diana invested $61,293 in an account with a fixed annual : …

WebOct 26, 2024 · 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? Answer by Guest Answer: … Web3000 = p × 0.08 × 1 3000 = 0.08p p = 37,500 Answer: He must invest $37,500 Example 2: Jane owes the bank some money at 4% per year. After half a year, she paid $45 as interest. How much money does she owe the bank? Solution: Step 1: Write down the formula I = prt Step 2: Plug in the values 45 = 0.02p p = 2250 Answer: She owes $2,250 ion wind rotor

Solved Diana invested $7,250 at 3.37% compounded Chegg.com

WebThis problem has been solved! You'll get a detailed solution from a subject matter expert that helps you learn core concepts. See Answer Question: Diana invested her savings of $1,775 in a savings account that was earning simple interest at 2.25% p.a. She also invested $3,125 in her friend's business at 0.46% p.m. a. WebAn investment of $3,000 is made at an annual simple interest rate of 5%. How much additional money must be invested at an annual simple interest rate of 9% so that the total annual interest earned is 7.5% of the total investment? First fill in the P, r, and t columns with the given values. WebJul 12, 2024 · Diana invested some money in a bank at a fixed rate of interest compounded annually. The equation below shows the value of her investment after x years. … on the ledger