Compound Interest

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Compound interest problems.

Created Date 03.22.20
Last Updated 03.23.20
Viewed 8 Times
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• Jessica invests \$7000 in a savings account with a fixed annual interest rate of 5% compounded 2 times per year. What will the account balance be after 6 years?
• Daniel invests \$5426 in a savings account with a fixed annual interest rate of 6% compounded 12 times per year. What will the account balance be after 9 years?
• Brenda invests \$3895 in a savings account with a fixed annual interest rate of 6% compounded 4 times per year. How long will it take for the account balance to reach \$6272.21?
• Brenda invests \$7128 in a savings account with a fixed annual interest rate of 8% compounded 3 times per year. How long will it take for the account balance to reach \$9775.10
• Lisa invests \$5643 in a retirement account with a fixed annual interest rate compounded 12 times per year. After 16 years, the balance reaches \$9114.05. What is the interest rate of the account.
• Lea invests \$1656 in a savings account with a fixed annual interest rate compounded 4 times per year. After 6 years, the balance reaches \$2824.75. What is the interest rate of the account?
• Nicole invests a sum of money in a retirement account with a fixed annual interest of 5% compounded 6 times per year. After 15 years, the balance reaches \$4474.11 What was the amount of the initial investment?
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