Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
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Question
. For example, if Eloisa invests in an I-bond which compounds twice a year with APR 8%,
8%
then each 6 months, the money in the account will be assessed
4% interest. This
2
is 4% semi-annual growth. Thus the growth factor is 1.04.
(a) Fill in the table for how much money is in Eloisa's I-bond at each time after initial
investment of $200, assuming the interest rate does not change.
1.5 years
2 years t years
t
amount
0 months 6 months
$200
=
1 year
(b) As a percent, how much larger is Eloisa's account after one year compared to her
original investment? What was the percent change?
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Transcribed Image Text:. For example, if Eloisa invests in an I-bond which compounds twice a year with APR 8%, 8% then each 6 months, the money in the account will be assessed 4% interest. This 2 is 4% semi-annual growth. Thus the growth factor is 1.04. (a) Fill in the table for how much money is in Eloisa's I-bond at each time after initial investment of $200, assuming the interest rate does not change. 1.5 years 2 years t years t amount 0 months 6 months $200 = 1 year (b) As a percent, how much larger is Eloisa's account after one year compared to her original investment? What was the percent change?
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