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

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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
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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
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