For Exercises 11–16, suppose that P dollars in principal is invested at an annual interest rate r. For interest compounded n times per year, the amount
Suppose an investor deposits $5000 in an account for 8 yr for which the interest is compounded quarterly. Find the total amount of money in the account for the following interest rates. Compare your answers and comment on the effect of interest rate on an investment.
a.
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Beginning and Intermediate Algebra
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