Suppose you deposit 100 dollars in Account A with a simple interest rate of 3.4 percent, and 300 dollars in Account B with a simple interest rate of 1.8 percent. One year later, you get a bank statement that shows the interest for Account A is 3.40 dollars, and the interest for Account B is 540.00 dollars. What may have been the bank's error?

Graph the simple interest earned on $950 at an annual rate of 4.2%.

To make CDs look more attractive than they really are, some banks advertise that their rates are higher than their competitors’ rates; however, the fine print says that the rate is a simple interest rate. If a person deposits $10,000 at 10% per year simple interest, what compound interest rate would yield the same amount of money in 3 years?

In this exercise, use the add-on method of calculating interest to find the total interest and the monthly payment.

A loan of $\$ 10,000$ was repaid at the end of $6$ months. What amount (principal and interest) was repaid, if a $6.5 \%$ annual rate of interest was charged?

Find the time required for a $1000 investment to (a) double at interest rate r, compounded continuously, and (b) triple at interest rate r, compounded continuously. Round your results to two decimal places.$r = 3.75%$

a. At what interest rate, compounded annually, would you need to invest $500 in order to have$625 in 2 years? b. At this interest rate, how long would it take for your $500 to double in value?

True or False? If true, prove it. If false, find the true answer. If you invest $500, an annual rate of interest of 3% yields more money in the first year than a 2.5% continuous rate of interest.

Investigate the difference between compounding annually and simple interest. Round to the nearest cent. Find the interest for a 1-year CD for $5,000 at an interest rate of 2.5% compounded annually.

Find the time required for a $1000 investment to (a) double at interest rate r, compounded continuously, and (b) triple at interest rate r, compounded continuously. Round your results to two decimal places.$r = 2.5%$

In this exercise, use the add-on method of calculating interest to find the total interest and the monthly payment.

What happens to the present value of an annuity as the interest rate increases?

The bank offered a 0.6% interest rate. Find 0.6% of $1300.

Find the monthly interest rate $r$ when

$$A P R=11$$