51-54: Simple Interest. Calculate the amount of money you will have in the following accounts after 5 years, assuming that you eam simple interest 51. You deposit $ 700 in an account with an annual interest rate of 4% 52. You deposit $1200 in an account with an annual interest rate of 3% 53. You deposit $3200 in an account with an annual interest rate of 3.5% 54. You deposit $1800 in an account with an annual interest rate of 3.8% 55-56: Simple versus Compound Interest. Complete the following tables, which show the performance of two investments over a 5-year period. Round all figures to the nearest dollar. 55 Suzanne deposits $3000 in an account that earns simple interest at an annual rate of 2.5%. Derek deposits $3000 in an account that earns compound interest at an annual rate of 2.5%. Suzanne's Suzanne's Derek's Annual | Derek's Year Annual Interest Balance Interest Balance rest formula to the stated pe 57-62: Compound Interest. Use the compound interest form compute the balance in the following accounts after the state riod of time, assuming interest is compounded annually. 57. $10,000 is invested at an APR of 4% for 10 years. 58. $10,000 is invested at an APR of 2.5% for 20 years. 59. $15,000 is invested at an APR of 3.2% for 25 years. 60. $3000 is invested at an APR of 1.8% for 12 years. 61. 55000 is invested at an APR of 3.1% for 12 years. 62. $ 40,000 is invested at an APR of 2.8% for 30 years. 63-70: Compounding More Than Once a Year. Use the appropriate compound interest formula to compute the balance in the following accounts after the stated period of time. 63. $10,000 is invested for 10 years with an APR of 2% and quarterly compounding. 64. $2000 is invested for 5 years with an APR of 3% and daily compounding 65. $25,000 is invested for 5 years with an APR of 3% and daily compounding 66. $10,000 is invested for 5 years with an APR of 2.75% and monthly compounding. 67. $2000 is invested for 15 years with an APR of 5% and monthly compounding 68. $30,000 is invested for 15 years with an APR of 4.5% ana daily compounding. 69. $25,000 is invested for 30 years with an APR of 3.7% quarterly compounding. 70. $15,000 is invested for 15 years with an APR of 4.2% monthly compounding. 71-74. Annual.
