a.
To find: The deposited amount.
The deposited amount is $2804.71.
Given:
The balance is $3000 after 3 years in the account that pays 2.25% annual interest compounded quarterly.
Concept used:
The amount
Calculation:
Here,
Now, the deposited amount is
Hence, the deposited amount is $2804.71.
b.
To find: The deposited amount.
The deposited amount is $2701.39.
Given:
The balance is $3000 after 3 years in the account that pays 3.5% annual interest compounded monthly.
Concept used:
The amount
Calculation:
Here,
Now, the deposited amount is
Hence, the deposited amount is $2701.39.
c.
To find: The deposited amount.
The deposited amount is $2666.99.
Given:
The balance is $3000 after 3 years in the account that pays 4% annual interest compounded yearly.
Concept used:
The amount
Calculation:
Here,
Now, the deposited amount is
Hence, the deposited amount is $2666.99.
Chapter 4 Solutions
Holt Mcdougal Larson Algebra 2: Student Edition 2012
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