Question

PLEASE ANSWER ALL WILL GIVE 30 POINTS
Question #1:
Mr. Ramos invests $500 at a simple interest rate of 6%. How much interest will he earn in six months?
Question #2:
Susan created a list below of her monthly household expenses. If she works 40 hours per week, what does her hourly wage need to be to meet these expenses?
Rent: $875
Monthly Bills: $1276
Entertainment and Food: $648
Savings: $250
Question #3:
Liabilities: 57,738 Assets: 26,879
Use the financial assets and liabilities record, left, to calculate Kelsey’s net worth it is:


Question #4:
Michael invested $1800 into an account that pays 4% interest, compounded annually. What is the balance in his account after 2 years?

Question #5:
Gina invested $10,000 at 1.5% interest compounded annually. How much interest will Gina earn in 2 years?

Answer 1

Answer:1 st Question = 15 Rs.

Step-by-step explanation:

Simple Interest = Principal× Rate×Time/100

So 500×6/100×6/12 = 15 Rs.

2nd question's Answer is = $19.05625

Her total requirement = $875+$1276+$648+$250 = $3049

Working hours per week is 40 hours so in a month working hours 40×4 (taking 4 week in a month) = 160 hours

So she has to earn $3049 in 160 hours

So hourly wage rate = $3049/160=$19.05625

3rd question's answer is - $30859

As net worth= Assets -Liabilities

So $26879-$57738 = - $30859

4th question's answer is $1946.88

In Compound Interest

Amount = Principal [ 1+ (R/100)]^n

So $1800 [1+ (4/100)]^2

$1800 (1.04)^2

= $1800×1.0816 = $ 1946.88

5th question's answer is $302.25

In Compound Interest

Amount = Principal [ 1+ (R/100)]^n

Amount = $10000 [ 1+ (1.5/100)]^2

Amount= $10000 (1.015)^2

Amount = $10000×1.030225

Amount= $ 10302.25

Amount- Principal = Interest

$10302.25-$10000 =$302.25