1. How much of a difference is there, in interest, between an investment of $899 with simple interest of 5% and an investment of $499 with a simple interest of 9%, both for a six year term?
2. What balance will you have in your account, in 8 years, if you invest $4000 at 3.5% compounded quarterly?
3. Gina deposited $1500 in an account that pays 11% interest compounded monthly. What will the balance be in 5 years?
4. You invested $4,400 for 2 years at 7.3% compounded semianually. What is your total balance after 12 years?
5. You want to buy a new motorcycle so you borrow $14,200 for 5 years at an interest rate of 13% and it’s compounded daily. How much interest will you have paid after the 5 year term has ended?