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Author Question: The principal represents an amount of money deposited in a savings account subject to compound ... (Read 98 times)

fahad

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on: Feb 2, 2020

Question 1

A bank offers a CD that pays a simple interest rate of 8%. How much must you put in this CD now in order to have $13,760 to replace all the windows in your house in 9 years?
◦ $576
◦ $8000
◦ $5760
◦ $11,520

Question 2

The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate.  Find how much money will be in the account after the given number of years (Assume 360 days in a year.), and how much interest was earned.

A = PntP = A = PertY = n - 1

Principal: $9000
Rate: 4%
Compounded: annually
Time: 3 years
◦ amount in account: $10,146.78; interest earned: $1146.78
◦ amount in account: $28,080.00; interest earned: $19,080.00
◦ amount in account: $10,123.78; interest earned: $1123.78
◦ amount in account: $1,125,000.00; interest earned: $1,116,000.00
Thinking Mathematically ¦ Blitzer ¦ 6th Edition
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Marked as best answer by fahad on Feb 2, 2020

Jadwiga9

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Reply #1 on: Feb 2, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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fahad

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Reply 2 on: Feb 2, 2020
Great answer, keep it coming :)

Jossy

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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