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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 47
Solve the following application problems. If no interest rate is given, assume
interest compounded daily. Round to the nearest cent.
INHERITANCE Jessica Thompson inherited $80,000 and decided to put the money in one of two 4-year time deposits. The first time deposit yielded 5 , but the second yielded only 4%. Find the difference in the annual income. ( Hint: Don't use the compound interest table.)
interest compounded daily. Round to the nearest cent. INHERITANCE Jessica Thompson inherited $80,000 and decided to put the money in one of two 4-year time deposits. The first time deposit yielded 5 , but the second yielded only 4%. Find the difference in the annual income. ( Hint: Don't use the compound interest table.)
Explanation
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It is given that the rate in the first d...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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