Mandy invested $1,000.00 in a certificate of deposit with a simple interest rate of 3%. Find the interest earned in 6 years. Then find the total of principal plus interest.

Question

anonymous · Answer

It is called 'Principle and Interest' or P & I. A mortgage payment usually includes 'PITI' or Principle, Interest, Taxes, & Insurance. The tax and insurance amounts are placed in an escrow account until they are due. In SOME cases, you can avoid escrow and pay these directly. If you have to ask, you don't qualify to do so. I don't either.

anonymous · Answer

the answer to your question last week is $1180

anonymous · Answer

never mind it is really 1194.05

anonymous · Answer

un rounded it is 1194.052296529