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Amount of interest earned after two years

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Reference no: EM131061247

1. What is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually?

  • $8.00
  • $4.08
  • $8.16
  • $4.00

2. What is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually?

  • $24.00
  • $8.00
  • $16.64
  • $25.97

3. A business just took out a loan for $100,000 at 10% interest. If the business pays the loan off in three months, how much did the business pay in interest?

  • $2,500.00
  • $10.00
  • $250.00
  • $10,000.00

4. What is the annual percentage yield (APY) for a deposit paying 5 percent interest with monthly compounding?

  • 5.00%
  • 5.12%
  • 79.59%
  • 0.42%

Reference no: EM131061247

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