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7000*0.03*6 = 1260

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โˆ™ 2011-02-16 20:29:43
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Q: Lisa deposits 7000 into an account that pays a simple interest rate of 3 percent a year How much interest will she be paid in the first 6 years?
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Related questions

What if your savings account pays 5 simple interest. You opened your savings account with 200 and did not add any additional deposits. After 2 years your account balance is approximately?

For simple interest you get $10 a year total in the account for 2 years $220.The answer is arrived at by multiplying $200x1.05x1.05 (for compound interest).$200x1.05x1.05= $220.50


How much interest would you earn in 6 months on an account that pays 6.5 percent simple interest on 654.89?

21.28


How much interest would you earn in six months on an account that pays 6.5 percent simple interest on 654.89?

21.28


If you have an account with an annual simple interest rate of 2.1 percent. You have a principle of 450.00. calculate your interest and your principle for two years?

18.90currency as an interest..


Leila deposits 3000 into an account that pays simple interest at a rate of 6 percent per year How much interest will she be paid in the first 6 years?

3,000.00 x 6% = +180.00 / year for 6 years will get 6 x 180 = 1080.00 . Sami N.


Eric earns 6.5 percent simple interest annually on his savings account he has a beginning balance of 459.32 How much interest does he receive?

29.86


If you have an account with an annual simple interest rate of 2.1 percent. You have a principle of 450.00 calculate your interest and your principle for two years?

18.90 as an interest. and principle wil remain same.


How does compound interest differ from simple interest?

With compound interest, you earn interest on the interest. Basically the interest payments are reinvested into the account whereas with simple interest, you only earn interest on the original balance. The interest payments are kept separate of the balance that you invested i.e.: with a bond, the interest payments don't go into a balance, you just get a check for them or rather your broker receives the check on your behalf and deposits it into your money market account which is separate from the bond that you purchased.


Calculate the simple interest you would receive in one year on a savings account that earns 5 percent annual interest What if your beginning balance is 255.19?

12.76


Calculate the simple interest you would receive in five years on a savings account that earns 7.5 percent annual interest What if your beginning balance is 1236.59?

463.72


What do you get if You deposit 750.00 in an account that earns 5 percent simple interest How much interest will your money earn in 6 months?

Two and a half percent of 750 ie 2.5 x 7.5 which is 18.75


Does the amount of interest earned each year increase decrease or stay the same in a simple interest account What about in a compound interest account?

Simple interest: stays the same. Compound interest: increases.

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