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QUESTION 1

  1. For the investment with interest compounded annually, find the final balance using the formula A = P(1 + r)t

     

    $600 for 4 years at 5%

1 points  

QUESTION 2

  1. What is the final balance for an account starting with $2000 at 3.5% interest compounded annually for 3 years? 

    A = P(1 + r)t

1 points  

QUESTION 3

  1. Tucker invested $3500 at 2% interest compounded annually. 

    How much interest will he earn in 3 years?

1 points  

QUESTION 4

  1. Lindsay invested $4500 at 4% interest compounded annually. 

    How much interest will she earn in 10 years?

1 points  

QUESTION 5

  1. Sunshine Bank offers 6% simple interest on deposits. Tangerine Bank offers 5% interest compounded annually. State the difference in final balances if $2000 is deposited in each bank for 2 years. 

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