Essay
Using the compound interest tables, answer the following questions.
Required:
a. What amount of interest will be earned on an investment of $10,500 left on deposit by
Marcy for three years at 9% interest compounded annually?
b. Travis deposited $10,000 in a fund that earns 8% interest compounded annually. How many years will it take for the fund to grow to $21,589.25?
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