Assume that a 30-month CD purchased for $2500pays simple interest at an annual rate of 5.5%. How much total interest does it ear
n?
$ _____
What is the balance at maturity?
1 answer:
Answer:
Interest earned: 343.75
Balance at maturity: 2843.75
Step-by-step explanation:
simple interest formula
P(1+it)
interest earned:
(interest earned is the ending balance minus the beginning balance)
2500(1+.055*(30/12))-2500= 343.75
Balance at maturity
2500(1+.055*(30/12))= 2843.75
(another way to solve this part is to just add 343.75 (the interest earned) to the beginning balance)
You might be interested in
Answer:
$23.17
Step-by-step explanation:
change 45% to a decimal than multiply .45 by $15.98 then add 15.98
Answer:
48 weeks
Step-by-step explanation:
Theres 4 weeks in a month and times that by 12 and you get your answer, Hope this helps !
Answer:
xopoorxo
Step-by-step explanation:
12
3b - a = 45
a = 2b + 40
Solve simultaneously.
3b - (2b + 40) = 45
3b - 2b - 40 = 45
b = 45 + 40
b = 95min (1 hour 35 min)
a = 2 (95) + 40
a = 230min ( 3 hour 50 min)
Charlie used a coupon and pos 9.99 for a pizza and it normally costs 15.99 14* the percentage of the change would be %1.28
