Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

Exercise 111

Solve the following application problems. If no interest rate is given, assume
interest compounded daily. Round to the nearest cent.
PRINT SHOP The manager of Quick Printing, Inc., is trying to get the most out of his as-sets including cash that has been sitting in a checking account that does not pay interest. He opened a savings account with a deposit of $8765 on January 4. On February 11, he deposited $936. Then, on March 21, he deposited a tax refund check for $650. Find (a) the balance on March 31 __________________ and (b) the interest earned through that date. __________________