| 1. |
Anna and Thomas each invested money in a one-year CD at Bagel Bank. The bank pays 5.15% yearly interest, compounded annually. Thomas invested six hundred dollars less than three times the amount that Anna invested. Bagel Bank will pay Anna and Thomas a total of $381.10 in interest for the year. How much money will be in Anna's account after it matures in 1 year?
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| 2. |
Brian has a credit card from Party Bank and another from Bagel Bank. He has a total of $1,570 charged on his credit cards. Party Bank charges 9% simple interest per year and Bagel Bank charges 16% per year. The yearly interest charge Brian needs to pay is $194.50. How much money does Brian owe Bagel Bank before interest charges?
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| 3. |
Steven deposited $4,700 into a 4-year CD at Party Bank. The CD pays 9% interest, paid semiannually. The interest is added to the balance and is accumulated with the original investment. How much will Steven have in four years?
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| 4. |
Kaitlyn deposited $3,600 in a 3-year CD at Arctic Bank. The CD pays 6% interest, compounded semiannually. The interest is added to the balance and is accumulated with the original investment. Kaitlyn has to pay thirty-five percent in taxes on the interest earned each year. How much in taxes will Kaitlyn have to pay on the interest earned in the first year?
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