(Answered) 1 what is the amount of interest earned after two years on

Finance

1. What is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually?

$8.00
$4.08
$8.16
$4.00

2. What is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually?

$24.00
$8.00
$16.64
$25.97

3. A business just took out a loan for $100,000 at 10% interest. If the business pays the loan off in three months, how much did the business pay in interest?

$2,500.00
$10.00
$250.00
$10,000.00

4. What is the annual percentage yield (APY) for a deposit paying 5 percent interest with monthly compounding?

5.00%
5.12%
79.59%
0.42%

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