Do not press Submit until all questions are colored green and you have double ch

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Do not press Submit until all questions are colored green and you have double checked your work Calculator Find the a) S187.20 b) () S185.20 ted amount at the end of 8 months on a S 180 bank deposit paying simple interest at a rate of 6% per year. d) S184.20 e) (S186.20 t) None of the above. Mr. Smith wishes to retire in 16 years. When he retires he would like to have S300.000 in his bank account. Mr. Smith's bank pays 8% per year compounded annually. How much should he deposit now to attain his goal? OS87,563. 14 b) c) $87,570.14 e here to

Explanation / Answer

Please check QA policy of chegg

you have posted multiple independent questions as chegg QA policy expert have to answer only first question completely.

Principle P = $180 , Rate=R = 6% time=T = 8months = (8/12) year

Amount = P + Interest = P + PxRxT = 180 + 180x(8/12)x0.06 = $187.20

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