# 5 - 1 Find the simple interest on a \$400 investment made...

• Homework Help
• 8
• 100% (1) 1 out of 1 people found this document helpful

This preview shows pages 1–3. Sign up to view the full content.

1. Find the simple interest on a \$400 investment made for 5 years at an interest rate of 7%/year. What is the accumulated amount? A) The simple interest is \$140, the accumulated amount is \$540. B) The simple interest is \$115, the accumulated amount is \$515. C) The simple interest is \$120, the accumulated amount is \$520. D) The simple interest is \$125, the accumulated amount is \$555. Table for Individual Question Feedback Points Earned: 5.0/5.0 Correct Answer(s): A 2. If the accumulated amount is \$3,720 at the end of 3 years and the simple rate of interest is 8%/year, what is the principal? Table for Individual Question Feedback Points Earned: 5.0/5.0 Correct Answer(s): C 3. Find the accumulated amount A if the principal P = \$2,000 is invested at the interest rate of r = 6% per year for t = 6 years, compounded annually. Table for Individual Question Feedback Points Earned: 5.0/5.0

This preview has intentionally blurred sections. Sign up to view the full version.

Correct Answer(s): C 4. Find the accumulated amount A if the principal P = \$11,000 is invested at the interest rate of r = 5% per year for t = 5.5 years, compounded quarterly. Table for Individual Question Feedback Points Earned: 5.0/5.0 Correct Answer(s): D
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern