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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 71
Solve the following application problems. If no interest rate is given, assume
interest compounded daily. Round to the nearest cent.
CORPORATE SAVINGS Dayton Tires has $180,000 to invest for 1 year. Find the future value if it earns (a) 4 per year compounded daily and (b) 6 per year compounded daily. (c) Then find the difference between the two.
interest compounded daily. Round to the nearest cent. CORPORATE SAVINGS Dayton Tires has $180,000 to invest for 1 year. Find the future value if it earns (a) 4 per year compounded daily and (b) 6 per year compounded daily. (c) Then find the difference between the two.
Explanation
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Suppose interest compounded daily. 
Let ...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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