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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 79
Solve the following application problems. If no interest rate is given, assume
interest compounded daily. Round to the nearest cent.
EMERGENCY CASH After working long days in her small business for years, Kaitlyn Plank was finally making money. Since she was still worried about emergencies, she decided to put $85,000 in an investment for 4% years. Find the future value if it earns (a) 4 per year compounded daily and (b) 7 per year compounded daily. (c) Then find the difference between the two.
interest compounded daily. Round to the nearest cent. EMERGENCY CASH After working long days in her small business for years, Kaitlyn Plank was finally making money. Since she was still worried about emergencies, she decided to put $85,000 in an investment for 4% years. Find the future value if it earns (a) 4 per year compounded daily and (b) 7 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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