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Earn +20 ptsQ: Present value 8000 in 10 years at 6 interest?
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How much interest will be earned on an investment of 8000 at 10 percent simple interest for 3 years?
$2400
Michael invested a total of 14000 in two certificates of deposit One pays 5 percent interest and the other pays 6 percent interest His total interest at the end of one year is 780 How much is invest?
6000=5% 8000=other CD
How many years will it take for 8000 to double at a simple interest rate of 6 percent?
6% of 8,000 = 480 Since interest is not compounded, you just keep getting 480 paid once every year. Mathematically, it takes 8,000/480 = 162/3 years to earn another 8,000. But the final payment isn't paid until the end of the 17th year. Until that moment, you've only collected 7,680. Then, at the end of the 17th year, you get the payment that brings the interest to a total of 8,160. Note that if the interest had only compounded annually ... you leave the interest in the account, and at the end of next year, 6% is paid on the total in the account ... it would double in only 12 years.
What are three numbers multiplied the same that 8000?
They are: 20*20*20 = 8000
What is two thirds of 12000?
8000
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