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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 95
Solve the following word problems by using Table 11-1 or 11-2. When necessary, create new table factors. Round dollars to the nearest cent and percents to the nearest hundredth of a percent.
Valerie Walton invested $8,800 at the Northern Trust Credit Union at 12% interest compounded quarterly.
a. What is the annual percentage yield of this investment?
b. What will Valerie's investment be worth after 6 years?
Valerie Walton invested $8,800 at the Northern Trust Credit Union at 12% interest compounded quarterly.
a. What is the annual percentage yield of this investment?
b. What will Valerie's investment be worth after 6 years?
Explanation
Verified
Verified
Given,
V W's investment of $8,800,
Inter...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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