Help me answer these math problems. They are due by 10:00 PM Tonight. Please answer them carefully.

1. What is the formula for simple interest?

2. If Michael invests $2300 in the bank at a rate of 5.5% for a 6 year term, what will the interest be at the end of the term? (round to nearest cent)

3. Kelsey takes out a loan for $6000 to start a business after high school. The bank charges her 8% simple interest for the loan. Term is five years. After 5 years , what will the balance be for the repayment of this loan? (round to nearest cent)

4. Jessie invests $3345 in the stock market. Over the 3 years she has this invested, she gets an average return of 7.8% simple interest. How much interest will she had made over the 3 year period? (round to nearest cent)

5. How much of a difference is there, in interest, between an investment of $899 with simple interest of 5% and an investment of $499 with a simple interest of 9%, both for a six year term? (round to nearest cent)

6. What balance will you have in your account, in 8 years, if you invest $4000 at 3.5% compounded quarterly? (round to nearest cent)

7. Gina deposited $1500 in an account that pays 11% interest compounded monthly.
What will the balance be in 5 years? (round to nearest cent)

8. You invested $4,400 for 2 years at 7.3% compounded semianually. What is your total balance after 12 years? (round to nearest cent)

9. You want to buy a new motorcycle so you borrow $14,200 for 5 years at an interest rate of 13% and it’s compounded daily. How much interest will you have paid after the 5 year term has ended? (round to nearest cent)

(PLEASE ANSWER THESE QUESTIONS TONIGHT BY 8:00 PM)

Respuesta :

Answer:

. Kelsey takes out a loan for $6000 to start a business after high school. The bank charges her 8% simple interest for the loan. Term is five years. After 5 years , what will the balance be for the repayment of this loan? (round to nearest cent)

Step-by-step explanation: