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Questions and Answers
Suppose you invest $1000 at an annual interest rate of 5% compounded annually. How much interest will you earn after 2 years?
Suppose you invest $1000 at an annual interest rate of 5% compounded annually. How much interest will you earn after 2 years?
- $50
- $200
- $100 (correct)
- $150
If you invest $2000 at an annual interest rate of 8% compounded semi-annually, how much will your investment be worth after 3 years?
If you invest $2000 at an annual interest rate of 8% compounded semi-annually, how much will your investment be worth after 3 years?
- $2240
- $2260 (correct)
- $2250
- $2270
If you borrow $5000 at an annual interest rate of 6% compounded quarterly, how much will you owe after 2 years?
If you borrow $5000 at an annual interest rate of 6% compounded quarterly, how much will you owe after 2 years?
- $5400
- $5480
- $5320
- $5560 (correct)
If you deposit $3000 in a savings account that earns 4% simple interest annually, how much interest will you earn after 5 years?
If you deposit $3000 in a savings account that earns 4% simple interest annually, how much interest will you earn after 5 years?
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If you invest $4000 at an annual interest rate of 7% compounded monthly, how much will your investment be worth after 4 years?
If you invest $4000 at an annual interest rate of 7% compounded monthly, how much will your investment be worth after 4 years?
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