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vova2212 [387]
9 months ago
5

Alicia deposited $400 in the bank. The bank paid her simple interest at the rate of 5 percent per year. How much money will she

have in her account at the end of 6 months?.
Business
1 answer:
algol139 months ago
6 0

Using simple interest, she will have $410 at the end of six months.

Principle = $400

Rate = 5%

Time equals 6 months, or 0.5 years.

Simple interest is equal to PRT/100.

S.I. = 400*5*(1/2)/100

S.I. = 10

Consequently, $400 plus $10 equals $410.

<h3>What is simple interest?</h3>

To calculate the amount of interest that will be charged on a loan, use the quick and easy formula known as simple interest. For the purpose of calculating simple interest, the daily interest rate, the principal, and the number of days between payments are multiplied.

A loan's principal or the first deposit into a savings account serves as the basis for simple interest. Because simple interest doesn't compound, a creditor would only pay interest on the principal sum, and a borrower will never have to pay interest on the interest that has already accrued.

Learn more about simple interests, from:

brainly.com/question/25845758

#SPJ1

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Answer:

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Explanation:

Given:

FV = $1,000

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Required:

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Thus,

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Someone who wouldn't choose to pay for a certain good or service but who'd get the benefits of it anyway is the best definition given to be the answer to this question.

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Item 1Item 1 Weismann Co. issued 11-year bonds a year ago at a coupon rate of 11 percent. The bonds make semiannual payments and
Mamont248 [21]

Answer:

Price of the bond is $940.

Explanation:

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To calculate Price of the bond use following formula of Present value of annuity.

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