Interest-on-Interest Consider a $500 deposit earning 5 percent interest per year for five years.How much total interest is earned on the original deposit (excluding interest earned on interest) ?
A) $13.14
B) $25.00
C) $125.00
D) $138.14
Correct Answer:
Verified
Q21: Rule of 72 Approximately how many years
Q22: Interest-on-Interest Consider a $1,000 deposit earning 7
Q23: Discounting One Year What is the present
Q24: Rule of 72 Approximately how many years
Q25: Present Value What is the present value
Q27: Discounting One Year What is the present
Q28: Present Value What is the present value
Q29: Rule of 72 Approximately what interest rate
Q30: Compounding with Different Interest Rates A deposit
Q31: Rates over One Year Determine the interest
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents