$15000.00 is invested at a simple interest rate of 4.8% annual interest. Find the future value of this $15000.00 after 10 years.

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$15000.00 is invested at a simple interest rate of 4.8% annual interest. Find the future value of this $15000.00 after 10 years.

 

How much money should be invested at a simple interest rate of 5% that will grow to $25000 after 5 years.


How long will it take for a $16000.00 investment to grow to $20000.00 if it is invested at a 4% annual simple interest rate?

 

$600.00 is invested at a simple interest rate r which grows to $800.00 after 12 years.Find the rate r as a percentage.


Jill purchases 110 shares at $223.13 a share using a broker who charges commission according to the following table.


Principal (Value of the stock)



Commission



Under $5000



$60+2% of the principal



$5000-$15000



$160+1% of the principal



Over $15000



$310+0.5% of the principal.



 

If Jill sells these 110 shares at $253.59 a share, 28 days after the purchase, find the annual rate of simple interest that Jill received on these 110 shares (assume a 360 day year.)

(use the method used in your mymathlab HW.)



Claire invests $5500 in a retirement account that pays 6% interest compounded monthly. How much money will Claire have after 70 years in this account?

 



How much money should be invested in an account that pays 6% interest rate compounded daily (assume a 360 day year) to receive $10000.00 from this investment after 2 years? Assume a 360 day year and round your answer to the nearest cent.

 

How long will it take for $2500.00 to grow to $100,000.00 if it grows with rate of 9% compounded monthly? Round the answer to three digits after the decimal.

 


The population of a country is growing at a rate of 2.5% compounded continuously. If the population at present is 145 million, what the population will be after 5 years if the same growth rate continues? Write the answer to the nearest million.

 


The population of a county has grown from 853216 people to 1137618 in 10 years. Find the rate of growth (rounded to 3-digits after the decimal sign) if the compounding is continuous.

 

Sera deposits $2500 in a retirement annuity that pays 3.6% interest compounded monthly. If no other changes are made, find the amount that the annuity will have after 10 years.

 


Sam would like to buy a car. The best offer that Sam is able to get for loan is 4.8% compounded monthly. Sam has a $2500.00 as a down payment and can afford a monthly payment of $300.00. Under these conditions, find the price (inclusive of all the taxes) that Sam can buy.

 

 

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