ClassTools (2024)

QuestionAnswerIf you put $5000 in a savings account that pays 2% annual interest, the amount of money you will have at the end of the year is$100The amount charged for the use of borrowed money is calledInterestIn how many years will $400 yield an interest of $112 at 14% simple interest?2 yearsPrincipal = $39,300, Rate = 4.5%, Time = 6 months. What will that total principal + interest payment be rounded to the nearest dollar.$40,184Find the total amount on $5100 after being invested for 18 years at 5% per annum simple interest.$9,690Find the total value of an investment of $1,030 at 4% compounded semi-annually for 2 years to the nearest dollar.$1,115The amount of an original investment is called thePrinciple