a.
To find: The balance in the account after 4 years.
The balance in the account after 4 years is $2479.38.
Given:
The deposited amount is $2200 in the account paying 3% annual interest compounded quarterly.
Concept used:
The amount
Calculation:
Here,
Now, the amount in the account after 4 years is
Hence, the balance in the account after 4 years is $2479.38.
b.
To find: The balance in the account after 4 years.
The balance in the account after 4 years is $2406.98.
Given:
The deposited amount is $2200 in the account paying 2.25% annual interest compounded monthly.
Concept used:
The amount
Calculation:
Here,
Now, the amount in the account after 4 years is
Hence, the balance in the account after 4 years is $2406.98.
c.
To find: The balance in the account after 4 years.
The balance in the account after 4 years is $2383.23.
Given:
The deposited amount is $2200 in the account paying 2% annual interest compounded daily.
Concept used:
The amount
Calculation:
Here,
Now, the amount in the account after 4 years is
Hence, the balance in the account after 4 years is $2383.23.
Chapter 4 Solutions
Holt Mcdougal Larson Algebra 2: Student Edition 2012
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