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Find the amount of compound interest earned in an account that opens with $21,000, earns 5.4% interest compounded daily, and is held for 15 years. Assume 360 days in a year. (Round your answer to the nearest cent.)
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jerry simon invest $5000 in saving account that earns simple interest for three year. If the interest earn from the account is $600 find the rate
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Find the amount of compound interest earned in an account that opens with $24,000, earns 7.7% interest compounded daily, and is
Top answer:
i = 24000(1+.077/360)^(360*15) - 24000 = 52167.15
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Find the amount of compound interest earned in an account that opens with $23,000, earns 3.3% interest compounded daily, and is
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Wow, good thing we have calculators I suggest you use the memory of your calculator to store the i
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Find the amount of compound interest earned in an account that opens with $21,000, earns 4.2% interest compounded daily, and is
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i = .042/360 = .0001166667 n = 5(360) = 1800 amount = 21000(1.000116667)^1800 = 25906.92
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Find the amount of compound interest earned in an account that opens with $23,000, earns 4.3% interest compounded daily, and is
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i = .043/360 = .000119444 n = 12(360) = 3600 amount = 23000(1.000119444)^3600 = 35356.0145 =
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Find the amount of compound interest earned in an account that opens with $24,000, earns 7.8% interest compounded daily, and is
Top answer:
P = Po(1+r)^n. Po = $24,000. r = (7.8%/360) / 100% = 0.00021667 = Daily % rate expressed as a
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Find the amount of compound interest earned in an account that opens with $29,000, earns 2.8% interest compounded daily, and is
Top answer:
Pt = Po(1+r)^n. r = (2.8%/360) / 100% = 7.777*10^-5 = Daily % rate expressed as a decimal. n =
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Find the amount of compound interest earned in an account that opens with $29,000, earns 7.5% interest compounded daily, and is
Top answer:
P = Po(1+r)^n. r = (7.5%/360) / 100% = 0.000208333333 = Daily % rate expressed as a decimal. n =
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Find the amount of compound interest earned in an account that opens with $27,000, earns 4.6% interest compounded daily, and is
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annual increase factor = (1 + 0.046/360)^360 = 1.047071335 After 15 years, principal will increase
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Find the amount of compound interest earned in an account that opens with $23,000, earns 3.9% interest compounded daily, and is
Top answer:
i=.039/360=.000108333 n=15*360=5400 Amount=2300(1.000108333)^5400 =30153.83 Interest
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Find the amount of compound interest earned in an account that opens with $24,000, earns 3.5% interest compounded daily, and is
Top answer:
i = .035/360 = .000097222 n = 10*360 = 3600 amount = 24000(1.000097222)^3600 = 34057.04 so the
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