WORKSHEET (3.1)

# WORKSHEET (3.1) - 12(a What will be the total amount of...

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WORKSHEET (3.1) 1. An amount of \$100 is deposited in your bank account paying an annual simple interest rate of 12%. (a) What is the interest that you will earn after 1year? (b) What is the interest that you will earn after 5years? 2. Suppose that you borrow \$100 from a bank. (a) What is the interest on the loan of \$100 at 12% annual simple interest for 1 month? (b) What is the interest on the loan of \$100 at 12% annual simple interest for 9 months? 3. An amount of \$100 is deposited in your bank account paying an annual simple interest rate of

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Unformatted text preview: 12%. (a) What will be the total amount of money in your account after 1year? (b) What will be the total amount of money in your account after 5 years? 4. Suppose that you borrow \$800 from a bank. (a) What is the interest on the loan of \$800 at 9% annual simple interest for 4 months? (b) What is the interest on the loan of \$800 at 9% annual simple interest for 30 months?...
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WORKSHEET (3.1) - 12(a What will be the total amount of...

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