Question
In: Math
Phyllis invested $8,500, a portion earning a simple interest rate of 3 1/4% per year and...
Phyllis invested $8,500, a portion earning a simple interest rate of 3 1/4% per year and the rest earning a rate of 3% per year. After one year the total interest earned on these investments was $271.25. How much money did she invest at each rate?
at 3 1/4% per year $_______
at 3% per year $________
Solutions
milcah answered 2 years agoRelated Solutions
If money is invested for 4 years, the per annum simple interest rate equivalent to a...
If money is invested for 4 years, the per annum simple interest
rate equivalent to a nominal rate of 4.9%p.a compounding monthly is
(as a percentage rounded to three decimal places; don’t use %
sign): Answer:
If money is invested for 8 years at a simple interest rate of 8.6% per annum,...
If money is invested for 8 years at a simple interest rate of
8.6% per annum, the nominal interest rate per annum, compounding
monthly, is (as a percentage rounded to three decimal places; no %
sign):
If money is invested for 10 years, the per annum simple interest rate equivalent to a...
If money is invested for 10 years, the per annum
simple interest rate equivalent to a nominal rate of 6.5%p.a
compounding quarterly is
6A. 14,000 is invested for 3 years at an annual simple interest rate of 14%. What...
6A. 14,000 is invested for 3 years at an annual simple interest
rate of 14%.
What is the future value of the investment at the end of the 3
years?
B. To buy a Treasury bill (T-bill) that matures to $10,000 in 6
months, you must pay $9750
If the bank charges a fee of $70 to buy a T-bill, what is the
actual interest rate you earn? (Round your answer to one decimal
place
C. If $5000 is invested...
Suppose that Ramos contributes $6000/year into a traditional IRA earning interest at the rate of 4%/year...
Suppose that Ramos contributes $6000/year into a traditional IRA
earning interest at the rate of 4%/year compounded annually, every
year after age 35 until his retirement at age 65. At the same time,
his wife Vanessa deposits $4700/year into a Roth IRA earning
interest at the same rate as that of Ramos and also for a period of
30 years. Suppose that the investments of both Ramos and Vanessa
are in a marginal tax bracket of 25% at the time...
You put $2,500 into an account earning interest at a rate of 8% per year. How...
You put $2,500 into an account earning interest at a rate of 8%
per year. How much money will you have after 8 years, assuming
simple interest and assuming no withdrawals? How much money will
you have assuming compound interest and no withdrawals? (4
pts.)
Suppose you have an investment that pays 8% per year,
compounded quarterly. What interest rate are you actually getting
per year? (2 pts.)
What is the present value of $2,500 received in 7 years with...
You put $2,500 into an account earning interest at a rate of 8% per year. How...
You put $2,500 into an account earning interest at a rate of 8%
per year. How much money will you have after 8 years, assuming
simple interest and assuming no withdrawals? How much money will
you have assuming compound interest and no withdrawals? (4
pts.)
Suppose you have an investment that pays 8% per year,
compounded quarterly. What interest rate are you actually getting
per year? (2 pts.)
What is the present value of $2,500 received in 7 years with...
If 38,300 dollars is invested at an interest rate of 7 percent per year, find the...
If 38,300 dollars is invested at an interest rate of 7 percent
per year, find the interest earned for the investment at the end of
5 years for the following compounding methods.
(a) Annual:
(b) Semiannual:
(c) Monthly:
(d) Daily:
Kyle invested $15,000 in a savings account. If the interest rate is 5% per year, how...
Kyle invested $15,000 in a savings account. If the interest
rate is 5% per year, how much will be in the account in 10
years
for monthly compounding?
Round your answer to the nearest cent.
Do NOT round until you calculate the final answer
Provide your answer below:
Which is a better investment 3% per year compounded monthly or 3.2% per year simple interest?
Which is a better investment 3% per year compounded monthly or 3.2% per year simple interest?
Given that (1+0.0025)12 =1.0304.
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