Chat with AI
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 121
Solve each application problem. Assume a sales commission of $10 per bond, unless indicated otherwise, and use the table in this section. Round the rate to the nearest tenth of a percent.
BOND FUND Bernice Clarence places $45,000 in a bond fund that is currently yielding 8% compounded annually. (a) Find interest for the first year. (b) She decides to let all interest payments remain in the account. Find the amount in the account after 10 years if the fund continues to earn 8% compounded annually.
BOND FUND Bernice Clarence places $45,000 in a bond fund that is currently yielding 8% compounded annually. (a) Find interest for the first year. (b) She decides to let all interest payments remain in the account. Find the amount in the account after 10 years if the fund continues to earn 8% compounded annually.
Explanation
Verified
Verified
a) Finding the interest in the first yea...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
