Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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4
You deposit $3000 into a savings account with an APR of 5.8%. Complete parts (a) through (c) below.
(a) Compute the amount of interest you gain after 1 year.
$ (Round to the nearest dollar as needed.)
(b) To compute the amount of money in the savings account at the end of 1 year, take the original value and add interest: $3000 +5.8% $3000. This is equivalent to
multiplying $3000 by what factor?
(Round to three decimal places as needed.)
(c) Fill in the following table, one year at a time:
(Round to the nearest cent as needed.)
Year
Beginning
$3000
1
2
3
4
$
CA
S
CA
CA
S
Interest
$
SA
$
CA
SA
$S
End
SA
$
$
SA
CA
S
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Transcribed Image Text:← 4 You deposit $3000 into a savings account with an APR of 5.8%. Complete parts (a) through (c) below. (a) Compute the amount of interest you gain after 1 year. $ (Round to the nearest dollar as needed.) (b) To compute the amount of money in the savings account at the end of 1 year, take the original value and add interest: $3000 +5.8% $3000. This is equivalent to multiplying $3000 by what factor? (Round to three decimal places as needed.) (c) Fill in the following table, one year at a time: (Round to the nearest cent as needed.) Year Beginning $3000 1 2 3 4 $ CA S CA CA S Interest $ SA $ CA SA $S End SA $ $ SA CA S
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