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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 77
Solve the following application problems. Round to the nearest cent.
WHICH INVESTMENT? Jan Reus sold her home and has $18,000 to invest. She believes she can earn 8% compounded quarterly. Find the compound amount if she invests for (a) 3 years __________________ and (b) 6 years. __________________ (c) Then find the additional amount earned due to the longer time period. __________________
WHICH INVESTMENT? Jan Reus sold her home and has $18,000 to invest. She believes she can earn 8% compounded quarterly. Find the compound amount if she invests for (a) 3 years __________________ and (b) 6 years. __________________ (c) Then find the additional amount earned due to the longer time period. __________________
Explanation
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Let the principal be compounded years....
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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