On February 1, John deposited 3,850 in a savings account that ...

[TVarnum]

On February 1, John deposited 3,850 in a savings account that pays annual interest of 3.4 compounded quarterly. If he made no other deposits or withdrawals in the account, what interest would he earn by keeping his money on deposit until November 1?

Question 2

Dale Crutchfield's checking account had a balance of 1,100.65 at the beginning of the day. He used his debit card to pay the drycleaner 45.68. He also used his debit card to pay 1,345 for a new sofa and table. To cover the purchases, Dale transferred 500 to his checking account from his savings using his bank's ATM. What was the balance of his checking account at the end of the day?

[mcarey591]

Answer to Question 1

99.01

Answer to Question 2

209.97