Travis invested $9,250 in an account that pays 6 percent simple interest. How much more could he have earned over a 7-year period

Gerold invested $5,600 in an account that pays 5 percent simple interest. How much money will he have at the end of ten years?    A.  $7,710 B.  $8,000 C.  $8,400 D.  $8,678 E.  $9,099 Ending value = $5,600 + ($5,600 × .05 × 10) = $8,400

22.	Alex invested $10,500 in an account that pays 6 percent simple interest. How much money will he have at the end of four years?    A.  $12,650 B.  $12,967 C.  $13,020 D.  $13,256 E.  $13,500 Ending value = $10,500 + ($10,500 × .06 × 4) = $13,020

23.

You invested $1,400 in an account that pays 5 percent simple interest. How much more could you have earned over a 20-year period if the interest had compounded annually?    A.  $749.22 B.  $830.11 C.  $882.19 D.  $901.15 E.  $914.62 Simple interest = $1,400 + ($1,400 × .05 × 20) = $2,800 Annual compounding = $1,400 × (1.05)20 = $3,714.62 Difference = $3,714.62 - $2,800 = $914.62

24.

Travis invested $9,250 in an account that pays 6 percent simple interest. How much more could he have earned over a 7-year period if the interest had compounded annually?    A.  $741.41 B.  $773.58 C.  $802.16 D.  $833.33 E.  $858.09 Simple interest = $9,250 + ($9,250 × .06 × 7) = $13,135 Compound interest = $9,250 × (1 + .06)7 = $13,908.58 Difference = $13,908.58 - $13,135 = $773.58