Algebra: Interest Word Problems
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Algebra: Interest WordProblems
On May 1 Gerry opened a savings account
On May 1 Gerry opened a savings account that paid 4.5% interest at Forever Broke Savings Band with a deposit of $600. Ten days later he deposited $1000. Five days later he deposited $500. No other deposits or withdrawls wew made. Fifteen days later the bank calculated the daily interest.
a. How much simple interest did he earn?
...
Donna invested her bonus
Donna invested her $33,000 bonus and received a total of $970 in interest after one year. If part of the money returned 4% and the reminder 2...
Larry has $2600 to invest
Larry has $2600 to invest and needs $3100 in 11 years. What annual rate of return will he need to get in order to accomplish his ...
$24,000 was invested in two accounts
$24,000 was invested in two accounts. One account earned 8% annual interest and the other earned 9%. The total annual interest earned was $2020...
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