1. The principal P is borrowed at a simple interest rate r for a…
Question Answered step-by-step 1. The principal P is borrowed at a simple interest rate r for a… 1. The principal P is borrowed at a simple interest rate r for a period of time t. Find the? loan’s future value? A, or the total amount due at time t. Round answers to the nearest cent.P? =?p = $8000?,r? = 8?%,t? = 2 years 2.The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal Rate Compounded Time $3000 2% semiannually 5 years a. The amount of money in the account after 5 years is?$…..?(Round to the nearest hundredth as? needed.)b. The amount of interest earned is $?(Round to the nearest hundredth as? needed 3. Use the percent? formula, A=PB?, where A is P percent of? B, to answer the following question. What is 21% of 60?? 4. Use the percent formulaA=PB to answer the question below. What percent of 2.5 is 0.4??5. Change the percent to a decimal equivalent.8 7/ 10?% 6. Person A deposits $2850 in an account that pays 3?% interest compounded once a year. Person B deposits ?$2550 in an account that pays 4?% interest compounded monthly a. Who will have more money in their account after one? year? How much? more? Select the correct choice below and fill in the answer box within your choice.b. Who will have more money in their account after five? years? How much? more? Select the correct choice below and fill in the answer box within your choice.c. Who will have more money in their account after 20? years? How much? more? Select the correct choice below and fill in the answer box within your choice. 7. Suppose you have $12,000 to invest. Which of the two rates would yield the larger amount in3 years?: 6?% compounded quarterly or 5.94% compounded? continuously?Which of the two rates would yield the larger amount in 3 years ? Math Algebra MATH 101 Share QuestionEmailCopy link Comments (0)
