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Home Q & A Board Science-Related Homework Help Mathematics
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Biraj Biraj
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4 years ago

Question 1.

A bank offers a CD that pays a simple interest rate of 8%. How much must you put in this CD now in order to have $13,760 to replace all the windows in your house in 9 years?

▸ $576

▸ $8000

▸ $5760

▸ $11,520

Question 2.

The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate.  Find how much money will be in the account after the given number of years (Assume 360 days in a year.), and how much interest was earned.

A = PntP = A = PertY = n - 1

Principal: $9000
Rate: 4%
Compounded: annually
Time: 3 years

▸ amount in account: $10,146.78; interest earned: $1146.78

▸ amount in account: $28,080.00; interest earned: $19,080.00

▸ amount in account: $10,123.78; interest earned: $1123.78

▸ amount in account: $1,125,000.00; interest earned: $1,116,000.00
Textbook 
Thinking Mathematically

Thinking Mathematically


Edition: 6th
Author:
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abonaccorso1abonaccorso1
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Biraj Author
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4 years ago
Just got PERFECT on my quiz
megan.xo
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Yesterday
Brilliant ツ
cipcal
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2 hours ago
Good timing, thanks!
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