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43) If $15,000 is placed into an account that earns 7.5% interest per year, find the total amount in the account after 10 years for the following compound methods. a. Yearly b. Quarterly 1 15 000 10 S 15cdo (1+0.075) (16) 15000 (8.5) 127,500 c. Monthly 12 15000 (1+0.15/12) (12.10

43) If $15,000 is placed into an account that earns 7.5% interest per year, find the total amount in the account after 10 years for the following compound methods. a. Yearly b. Quarterly 1 15 000 10 S 15cdo (1+0.075) (16) 15000 (8.5) 127,500 c. Monthly 12 15000 (1+0.15/12) (12.10

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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**Compound Interest Problem** If $15,000 is placed into an account that earns 7.5% interest per year, find the total amount in the account after 10 years for the following compound methods: a. Yearly b. Quarterly c. Monthly d. Continuously --- **Notes and Calculations (Visible):** * For Quarterly (b): - Equation: \( 15000(1 + 0.075/4)^{4 \times 10} \) * For Monthly (c): - Equation: \( 15000(1 + 0.075/12)^{12 \times 10} \) The text contains handwritten calculations and notes related to the compound interest equations for different compounding periods.
Transcribed Image Text:**Compound Interest Problem** If $15,000 is placed into an account that earns 7.5% interest per year, find the total amount in the account after 10 years for the following compound methods: a. Yearly b. Quarterly c. Monthly d. Continuously --- **Notes and Calculations (Visible):** * For Quarterly (b): - Equation: \( 15000(1 + 0.075/4)^{4 \times 10} \) * For Monthly (c): - Equation: \( 15000(1 + 0.075/12)^{12 \times 10} \) The text contains handwritten calculations and notes related to the compound interest equations for different compounding periods.
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