Answer:
Please see the solution below:
Explanation:
33)
Principal = $5,000
Interest Rate = 2.5% = 0.025
Time = 10 years
a)
Interest = Principal x Interest Rate x Time
Interest = $5,000 x 0.025 x 10
Interest = $1,250
b)
Total Balance = Interest + Principal
Total Balance = $1,250 + $5,000
Total Balance = $6,250
34)
Principal = $45,000
Interest Rate = 4.5% = 0.045
Time = 20 years
Interest = Principal x Interest Rate x Time
Interest = $45,000 x 0.045 x 20
Interest = $40,500