\[ \text { Find the future value of each deposit if the account pays (a) simple interest, and (b) interest compounded annually. } \] \[ 300 \text { at } 6 \% \text { for } 3 \text { years } \]

The principal \( P \) is borrowed and the loan's future value \( A \) at time \( t \) is given. Determine the loan's simple interest rate r . \( \mathrm{P}=\$ 7000.00, \mathrm{~A}=\$ 7910.00, \mathrm{t}=2 \) years \( \square \% \) (Round to the nearest tenth of a percent as needed.)

\( \$ 5,500 \) is deposited at the end of each quarter in an account that earns \( 7 \% \) compounded quarterly until \( \$ 100,000 \) has accumulated in the account. This scenario describes the ---Select--- for ? s . From the formula in the textbook, all values are known, except After how many quarters will the account contain \( \$ 100,000 \) ? (Round your answer UP to the nearest quarter.) quarters

ASK YOUR TEACHER \( \quad \) PRACTICE ANOTHER Find the annual percentage yield for an investment at the following rates. (Round your answers to two decimal places.) (a) \( 7.6 \% \) compounded monthly

Use PMT \( =\frac{p\left(\frac{r}{n}\right)}{\left[1-\left(1+\frac{r}{n}\right)^{-m}\right]} \) to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of \( \$ 5900 \) and an annual interest rate of \( 12 \% \). You decide to pay off the balance over three years. If there are no further purchases charged to the card, a. How much must you pay each month? b. How much total interest will you pay? a. The monthly payments are approximately \( \$ \square \). (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The total interest paid over 3 years is approximatsily \( \$ \square \). (Round to the nearest dollar as nesded.)

Find the amount that results from the given investment. \( \$ 300 \) invested at \( 4 \% \) compounded quarterly after a period of 3 years After 3 years, the investment results in \( \$ \square \). (Round to the nearest cent as needed.)