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Seks
Round to the nearest cent where necessary.
1. How much interest would $2,000 earn in one year at the rate of 1.2%7
2.
How much interest would $2,000 earn, compounded annually, In two years at the rate of 1.2%?
3.
How much Interest would $2,000 earn, with simple interest, in two years at the rate of 1.297
4.
Compare your answers to Exercises 2 and 3. Explain why they differ.
5.
How much would d dollars eam in one year at the rate of p percent compounded annually?
6. Margaret deposits $1,000 in a savings account that pays 1.4% Interest compounded
semiannually. What is her balance after one year?
7. How much interest does $5,300 earn at a rate of 2.8% interest compounded quarterly, in three
months?
