Mr Ong puts $4500 in a bank. The bank pays 3% interest each year. How much interest will Mr Ong earn after 1 year? Mr Ong will earn $ of interest after 1 year.

Lamar deposits $600 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 3 years?$

Mr. Lee has two fixed deposit accounts, one yielding 3% interest per year and the other 7% interest per year.If he has a total of $100,000 deposits and in a year his total interest is $4,500, how much money did he put into the 7% interest deposit?Note: Use the algebraic approach.Let the amount of money in the account with a yield of 7% = $p

(a) $855 simple interest was paid when $4500 was invested at 4.75% per annum.Determine the period of investment.(b) Mrs. Woods borrowed a sum of money from a bank at 12.5% per annum for 6 yearsand paid $6375 simple interest. Calculate the sum of money mrs. Wood borrowedfrom the bank.(c) The simple interest on $15 000 for years is $4950. Calculate the rate percent perannum.

You have $100 and a bank is offering 6.0% interest on deposits. If you deposit the money in the​ bank, how much will you have in one​ year?

Donna deposits $40,000 into an account that pays 4% interest per year, compounded annually.Tony deposits $40,000 into an account that also pays 4% per year. But it is simple interest.Find the interest Donna and Tony earn during each of the first three years.Then decide who earns more interest for each year.Assume there are no withdrawals and no additional deposits.YearFirstSecondThirdInterest Donna earns(Interest compounded annually)$$$Interest Tony earns(Simple interest)$$$Who earns more interest? Donna earns more. Tony earns more. They earn the same amount. Donna earns more. Tony earns more. They earn the same amount. Donna earns more. Tony earns more. They earn the same amount