principal

Reece made a deposite into an account that earns 8% simple interest. After 8 years Reece has earned 400 dollars. How much was Reece's initial deposit? Simple interest formula: A = P(1 + it) where P is the amount of principal to be invested, i is the interest rate, t is the time, and A is the...

You put $5500 in a bond fund which has an annual yield of 4.8%. How much interest will be earned in 23 years? Build the accumulation of principal. We multiply 5,500 times 1.048 raised to the 23rd power. Future Value = 5,500 (1.048)^23 Future Value =5,500(2.93974392046) Future Value = 16,168.59...

Annuity that pays 6.6% compounded monthly. If $950 is deposited into this annuity every month, how much is in the account after 7 years? How much of this is interest? Let's assume payments are made at the end of each month, since the problem does not state it. We have an annuity immediate...

Match each variable with a variable by placing the correct letter on each line. a) principal b) interest c) interest rate d) term/time 2 years 1.5% $995 $29.85 Principal is $995 Interest is $29.85 since 995 * .0.15 * 2 = 29.85 Interest rate is 1.5% Term/time is 2 years