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Earn +20 ptsQ: What is an interest account?
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What type of bank account typically offers no interest rate?
A current account.
1000 dollars in a savings account pays 7 percent interest per year The interest earned after the first year is added to the account How much interest is earned on the new principal the following year?
$74.90
Taylor wrote a check for 18 on the same day his bank paid interest to his account If his account balance changed 13 that day how much interest did he earn?
Well, honey, if Taylor's account balance changed by $13 on the day his bank paid interest and he wrote a check for $18, then he must have earned $31 in interest. It's simple math, darling. Just add the check amount to the change in the account balance, and there you have it.
You start a account with $2500 and a interest rate of 6.5 compounded yearly. How much is in the account after 7 years?
It is 3884.97 dollars.
If and 2000 is placed in a bank account that pays 3 compound interest per year how much will be in the account in 2 years?
2120.80
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