Mathematics of Finance

If you deposit $2000 in a bank that pays simple interest of 5% annually, how much interest will you earn after 3 years?

Chapter 4 Section D Suppose that on January 1 you have a balance of $\$ 3000$ on a credit card whose APR is $12 \%$, which you want to pay off in 3 years. Assume that you make no additional charges to the card after January 1 a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1 ? c. What percentage of your total payment (part b) is interest? a. The monthly payment is $\$$ (Do not round until the final answer. Then round to the nearest cent as needed) an example Get more help. Clear all Check answer

How much interest is included in the future value of an ordinary simple annuity of $\$ 1,600$ paid every six months at $7 \%$ compounded semi-annually if the term of the annuity is 4 years? The interest is $\$ \square$ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Connor has made deposits of $\$ 85.00$ into his savings account at the end of every three months for 14 years. If interest is $11 \%$ per annum compounded monthly and he leaves the accumulated balance for another 4 years, what would be the balance in his account then? The balance in his account would be $\$ \square$. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)