Financial Applications

Match it! Select the correct answer from the pull down...Good luck!

Karl borrows $500 for 4 years at an annual simple interest rate of 12% per year. What is the amount that must be repaid?

An amount is deposited into an account that earns 9% per year, compounded quarterly. After 6 years, the amount in the account is $597.02. What is the present value?

To have $5000 at the end of 8 years, how much do you need to invest today, at 6% per annum, compounded semi-annually?

Deanna invests $500 at 8% per year simple interest. She puts money in the bank on July 1 and takes it out on December 3. How much money does she take out?

Jasmine invests $400 at 8% annual interest, compounded annually. How much interest will be earned after 5 years?

If an amount is invested at 6.5% per year, compounded semi-annually, for 3 years, determine the number of compounding periods and the interest rate per compounding period.

Jerry deposited $300 into an account that earns 6.7% annual interest, compounded daily. When he closed the account, the amount had grown to $348.56. How long was the money invested?

An account paying 7.25% annual interest, compounded semi-annually, has a future value of $1429 in 8 years. What is the present value of the account? AND How much more interest will have been earned than if simple interest was paid?