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How many years will it take for an investment

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Reference no: EM133120890

1. How many days (rounded to the nearest day) will it take for $1,950 to accumulate to $2,125 at 6.5% annual simple interest?

2. How many years will it take for an investment of $1,000 to grow to $1,500 if the annual simple interest rate is 1.2%?

3. Ryan had to make payments of $2,000 in 6 months and $3,000 in 18 months, respectively, to a raw material supplier. What single payment 12 months from today would settle both of these payments? Assume a simple interest rate of 6% per year.

Reference no: EM133120890

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