You invest $48,850 in a short-term deposit at 3.72% for 316 days. a) Calculate the accumulated value of this amount at the end of the term. $ b) Calculate the amount of interest earned. $
You invest $48,850 in a short-term deposit at 3.72% for 316 days. a) Calculate the accumulated value of this amount at the end of the term. $ b) Calculate the amount of interest earned. $
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section: Chapter Questions
Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...
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You invest $48,850 in a short-term deposit at 3.72% for 316 days.
a) Calculate the accumulated value of this amount at the end of the term. $
b) Calculate the amount of interest earned. $
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