Author Question: On February 1, John deposited 3,850 in a savings account that pays annual interest of 3.4 compounded ... (Read 276 times)

TVarnum

  • Hero Member
  • *****
  • Posts: 548
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

  • Sr. Member
  • ****
  • Posts: 365
Answer to Question 1

99.01

Answer to Question 2

209.97



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

For a complete list of videos, visit our video library