classwork - 4b-4c - ClassWork #1 (Sections 4B & 4C) (10...

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ClassWork #1 (Sections 4B & 4C)  (10 pts) Name___________________________________ For any problems involving calculations, you MUST SHOW WORK to get credit (just write what you're going to type in the  calculator).   Calculate the amount of interest you'll have at the end of the indicated period.  1) 
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You  invest $  37,500 in  an  account  that pays  simple  interest of  4% for  3  year(s). 
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1) 
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_______  A) 
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$ 450.00 
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B) 
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$ 3125.00 
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C) 
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$ 50,000.00 
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D)  $      Use the  compound  interest formula  to determine  the  accumulated  balance after  the stated  period.  Assume  that interest is  compounded  annually. 
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$ 3000 is  invested  at an APR  of  9% for  5 years. 
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2)  ______ _  A
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$ 4615.87  
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B) 
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$ 4350.00 
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C) 
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$ 4080.00  
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D)  $      Use the  compound  interest formula  for  compounding  more than once  a year to  determine the  accumulated  balance after  the stated  period. 
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$2500  deposit at  an APR  of  7.5%  with  monthly  compoun ding for  7 years 
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3)  ______ _  A
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$3375.40 
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B) 
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$4219.25 
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C) 
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$2611.45 
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classwork - 4b-4c - ClassWork #1 (Sections 4B & 4C) (10...

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