Answer the following questions.
You have invested $500 at 9% interest. According to the Rule of 72, how many years will it take for the money to double in value?
You have invested $2,000 at 2% interest. According to the Rule of 72, how many years will it take for the money to double in value?
You have invested $5,000 at 3% interest. According to the Rule of 72, how many years will it take for the money to double in value?
You have invested $25,000 at 12% interest. According to the Rule of 72, how many years will it take for the money to double in value?
You have invested $750 at 6% interest. According to the Rule of 72, how many years will it take for the money to double in value?
You deposit $300 in a savings plan with an annual rate of 7.25% simple interest. How much INTEREST will you make after 1 year?
You deposit $2,000 in a savings plan with an annual rate of 5.5% simple interest. How much MONEY will you have in your account after 1 year?
You deposit $8,000 in a savings plan with an annual rate of 2% simple interest. How much MONEY will you have in your account after 1 year?
You put $1,500 in a savings account at 8% compounded annually. How much MONEY will you have in your account after 3 years?
You put $5,000 in a savings account at 9% compounded quarterly. How much MONEY will you have in your account after 1 year?
You put $2,700 in a savings account at 10% compounded semiannually. How much INTEREST will you have after 1 year?