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How much money will he have at the end of five years

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1) Edmund invested $3,630 in an account that pays 6 percent simple interest. How much money will he have at the end of five years?

2) Mr. Smith invested a lump sum 28 years ago at 4.05 percent annual interest. Today, he gave his son the proceeds of that investment, totalling $48,613.24. How much did Mr. Smith originally invest?

3) Ms. Joanna deposited $2,500 today at 6.5 percent interest for 15 years. However, her sister, Ms. Jenny can only earn 6.25 percent interest. How much more money must Ms. Jenny deposit today than her sister did if she are to have the same amount saved at the end of the 15 years like Ms. Joanna?

Reference no: EM133002348

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