Tom deposits his $10,000 inheritance in a savings account with a 4% annual interest rate, compounded quarterly. He leaves it there untouched for six months, after which he withdraws $5,000. He leaves the remainder untouched for another six months.

How much interest has Tom earned on the inheritance after one year?

On January 1, Gary borrows $10,000 to purchase an automobile at 12% annual interest, compounded quarterly beginning on April 1. He agrees to pay $800 per month on the last day of the month, beginning on January 31, over twelve months; his thirteenth payment, on the following January 31, will be the unpaid balance. How much will that thirteenth payment be?

Barry invests $9000 in corporate bonds at 8% annual interest, compounded quarterly. At the end of the year, how much interest has his investment earned?

Bryan invests $8,000 in both a savings account that pays 3% simple interest annually and a certificate of deposit that pays 8% simple interest anually. After the first year, Bryan has earned a total of $365.00 from these investments. How much did Bryan invest in the certificate of deposit?

Grandpa Jack wants to help his grandson, Little Jack, with college expenses. Little Jack is currently 3 years old. If Grandpa Jack invests $5,000 in a college savings account earning 5% compounded yearly, how much money will he have in 15 years when Little Jack is 18?

Scott wants to invest $1000 for 1 year. At Bank A, his investment will collect 3% interest compounded daily while at Bank B, his investment will collect 3.50% interest compounded monthly. Which bank offers a better return? How much more will he receive by choosing that bank over the other?

Cherry invested dollars in a fund that paid 6% annual interest, compounded monthly. Which of the following represents the value, in dollars, of Cherry’s investment plus interest at the end of 3 years?

Carl's uncle invested money in some corporate bonds for his nephew the day Carl was born; the bonds paid 4% annual interest compounded continuously. No money was deposited or withdrawn over the next fifteen years. The current value of the bonds is $5,000.

Which of the following expressions is equal to the amount of money Carl's uncle invested initially?

Sheryl is competing in an archery tournament. She gets to shoot three arrows at a target, and her best one counts.

Sheryl hits the bullseye 42% of the time. What is the probability (two decimal places) that she will hit the bullseye at least once in her three tries?

Sheryl is competing in an archery tournament. She gets to shoot three arrows at a target, and her best one counts.

Sheryl hits the bullseye 42% of the time. What is the probability (two decimal places) that she will hit the bullseye at least once in her three tries?