Interest Word Problems

Aaron deposits $500 in a savings account paying 6% interest, compounded annually. how much money will he have in the account after 4 years?
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if a 23% interest rate is for a year what is the daily periodic rate
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A carpenter used 30 ft. of molding in three pieces to trim a garage door. If the long piece was 2 ft. longer than twice the length of each shorter piece, then how long was each piece?
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if lebo decided to invest r12000 at 5 % compound intrest for 5years ,what will the total amount be in her account at the end of 5years
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Find the total amount owed after 6 months on a loan of $900 at an annual simple intrest rate of 8.5%.
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ms. brown invested 3 times as much at 12% as she did at 11%. the total amount of interest she earns in 1 year from both accounts is 940. how much did she invest at each rate?
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how long would it take for 60000 to triple at a rate of 12% interest compounded annually?
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principal amount=6000, time=2 years, rate=8% find the compond interest compuonded yearly
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Carlos invested $7,625, part at 8% annual interest and the rest at 6.5% annual interest. In the same amount of time, he earned three times as much interest from the 6.5% investment as he did from the 8% investment. How much money did he have invested at 6.5%?
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If a discount of 20% off the retail price of a desk saves Mark $45.00, how much did he pay for the desk?
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jeff borrowed $800 from his brother for 2 years, he repaid the $800 plus $128 in interest. What simple interest did he pay?
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Joe Parker borowed $7645, part at 8% interest from the Credit Union and the remainder from his brother for 6.5% interest. In the same amount of time, he paid three times as much interest from the 6.5% loan as he did from the 8% loan. How much money did he borrow from his brother?
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A retailer bought goods for $ 6,800 terms 3/5,2/10, n/15. What is the amount due if the invoice was paid within 8 days?
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Find the simple interest earned on a principal $1,400 at an annual interest rate of 6.5% for 3 years.
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Larry has $2600 to invest and needs $3100 in 11 years. What annual rate of return will he need to get in order to accomplish his goal, if interest is compounded continuously?
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Interest Rate: 1% each year Starting Balance: $147 Time Passed: 6 years How much interest has accrued if we are using simple interest? What is the new total balance?
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What is the interest of $3000 with the interest rate of 20% for 100 days?
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Donna invested her $33,000 bonus and received a total of $970 in interest after one year. If part of the money returned 4% and the reminder 2.25% then how much did she invest at each rate?
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Mrs. Lee invests $800 at 6% per annum and $1200 at 7% per annum. What is her total annual interest on these two investments?
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Michael put $6000 in a savings account that earns simple annual interest. At the end of one year the account had earned $ in interest. What was the annual interest rate on the account?
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John has a credit card from Bagel Bank and another from Arctic Bank. He has a total of $1,190 charged on his credit cards. Bagel Bank charges 15% simple interest per year and Arctic Bank charges 16% per year. The yearly interest charge John needs to pay is $183.90. How much money does John owe Bagel Bank before interest charges?
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You deposit $4280 into a savings account that earns 1.75% intrest compounded anually. Use a calculator to find the balance of the account after 8 years. Round your answer to the nearest cent
Chapter 7Word problems practice terry invested 2200 in the stock market for 2 years. if the investment

$1000 is your Prncipal sum. Interest rate is 6% how much interest did you earn in 2 years
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jen gives loan of Rs.12,000 at a 15% rate for 1 and a half yrs. compounded yearly
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kelly is buying a house that cost $1,400 at an annual interest rate of 6
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If the simple interest of 9% per year grew to the sum of $1500 in 11 months what is the principal
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A loan company dropped the interest rate it charges on second mortgages from 9.5% to 7.9%. What percent reduction did this represent?
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If a 23% interest rate is for a year, wh... ...a year, what is the daily periodic rate?
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Paul nagel invested some money at 3.5% simple interest and $1000 more than that amount at 5% simple interest. After i year, his total interest from the two accounts was $560. How much did he invest at each rate.
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Word Problem for Money Invested

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A person has $18000 to invest. She invests part of it at 8% and part at 5%. How much is invested at each rate if the interest earned on the 8% investment is $510.50 more than the interest earned on the 5% investment in one year?
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Mr. Smith deposited some money in a savings account paying 4% simple interest. He deposited twice that amount in a CD paying 6.5% simple interest. If the total interest from the two accounts is $850 for 1 year, how much was deposited into each account?
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suppose you invest $1000 at 8% compounded semiannually. estimate how many years it takes the investment to grow to $2500
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The interest on $4200.00 at 8% compounded semiannually for 10 years is $6,292.40. True or false
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Khaild invests $6750 at 8.5 per annum. How much interrest has he earned?
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Linda invests $5000 into an account that pays 11% compounded quarterly. How much interest will she get after 5 years?
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If a 23% interest rate is for a year, what is the daily periodic rate?
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Irwin invested $2,500 in a company. 18 months later he had received $581.25 in interest. What was the rate of interest that he was paid?
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If Ben invests 4000 at 4% interest per year, how much additional money must he invest at 5.5% annual interest to ensure that the interest he receives each year is 4.5% of the total amount invested?
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If a 23% interest rate is for a year, what is the daily periodic rate
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The Computer CLub invested $2200, part at 4.5% interest and the rest at 7%. The total annual interest earned was $144. How much was invested at each rate?
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Ally went to buy a car for 1500. He borrowed that money from the bank and owes them a 5% interest, every 5 yrs. how much will he pay every 5 yrs.
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Kim borrowed $10,000 to pay her childs education. Kim must repay the loan in 11 months in one payment with 61/2% interest. How much interest must kim pay?
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How much moeny did a man borrow at 6% per year if, at the end of 3 years, he repaid $2,360?
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If interest is compounded continuously at 4.5% for 7 years, how much will a $2000 investment be worth at the end of 7 years?
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karen paid $48 on an item that was originally $62. What is the formula for determing the discount?

You invest $25,000. Part of it earns 14% and part of it earns 16% interest. What is the most you can invest earning 14% interest to earn $3500?

an investment of 4600 is made at an annual simple rate of 6.8%. how much additional must be invested at an annual simple rate of 9% so that the total earned is 8% of the total investment

$24,000 was invested in two accounts. One account earned 8% annual interest and the other earned 9%. The total annual interest earned was $2020. How much was invested in each account?

On May 1 Gerry opened a savings account that paid 4.5% interest at Forever Broke Savings Band with a deposit of $600. Ten days later he deposited $1000. Five days later he deposited $500. No other deposits or withdrawls wew made. Fifteen days later the bank calculated the daily interest. a. How much simple interest did he earn? b. How much was the account at the end of the 30 days?

jerry invested a total of $8000

$1,000 limit and it will have an interest rate of 20%. Payment of $200

Sharon invested $20,000, part at 5% and part at 7% simple interest for one year. How much was invested in each account if the interest earned in the 7% account was $440 greater than the interest earned in the 5% account?

You have $50,000 to invest, and two funds that you`d like to invest in. The YouRiskIt Fund (Fund Y) yields 14% interest. The ExtraDull Fund (Fund X) yields 6% interest. Because of college financialaid implications, you don`t think you can afford to earn more than $4,500 in interest income this year. How much should you put in each fund?"

a college student invested 5000.00 total in 2 seperate accounts. He invested half into a mutual account and the rest into a stock that yielded four times as much interest. After one year he earned a total of 250.00 in interest. What was the interest rates of the mutual fund and stock account?

you invest $200 into a savings account that earns 2% simple interest. How long will it take to earn $50 in interest

180 = $2000 times x times 3 years

Twin brothers Mike and John are 18. Mike decides to start investing $100 a month at a 5% rate that compounds monthly. At age 35 Mike decides to stop the monthly payments; however, he leaves the balance to continue earning 5% compounding monthly. John decides that he needs to start saving; however, he realizes that to have the same balance as his brother at age 60 he needs to invest more. As such, he begins investing $150 a month at 5% compounded monthly. At age 55 John stops the monthly payments but leaves the balance invested at 5%. At age 60 which brother has the highest account balance? Why?

Josie places $2400 in a bank account for a period of two years and six months at a simple annual interest rate of 4.7%. How much is in the account at the end of the time period?

Calculate the compound intrest on $12000 at 6.25% per annum for 2 years

What is the value after 8 years of $5,000 interested at 5% annual interest compounded quarterly?

At age 27, Jill deposited $4,000 into an IRA, where it earns 9 7/8% interest compounded monthly. What will it be worth when she retires at sixtyfive?

If $525 is deposited in an account paying 8.9% annual interest, compounded continuously, how long will it take for the account to increase to $825?

Larry has 41300 to invest and needs $1800 in 12 years. What annual rate of return will he need to accomplish his goal?

Terry`s investment of $2,200 in the stock market earned $528 in two years. Find the simple interest rate for this investment.