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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 120
Solve the following application problems. If no interest rate is given, assume
interest compounded daily. Round to the nearest cent.
SAVINGS ACCOUNT On April 1, MVP Sports opened a savings account at Bank of America with a deposit of $17,500. A withdrawal of $5000 was made 21 days later, another withdrawal of $980 was made 12 days before July 1. Find (a) the balance on July 1 __________________ and (b) the interest earned through that date. ( Hint: See the table footnote for 91 days.) __________________
interest compounded daily. Round to the nearest cent. SAVINGS ACCOUNT On April 1, MVP Sports opened a savings account at Bank of America with a deposit of $17,500. A withdrawal of $5000 was made 21 days later, another withdrawal of $980 was made 12 days before July 1. Find (a) the balance on July 1 __________________ and (b) the interest earned through that date. ( Hint: See the table footnote for 91 days.) __________________
Explanation
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Consider each deposit or withdrawal sep...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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