A certificate of deposit is worth P (1+r)t dollars after t years, where r is the annual interest rate expressed as a decimal, and P is the amount initially deposited. Which investment will be worth more? Investment A, in which P =$7300, r=4%, and t=5 years. Or investment B, in which P= $6300, r=6%, and t= 7years. Round to two decimal places. The value of certificate A will be what? And the value for investment B will be what? And
A certificate of deposit is worth P (1+r)t dollars after t years, where r is the annual interest rate expressed as a decimal, and P is the amount initially deposited. Which investment will be worth more? Investment A, in which P =$7300, r=4%, and t=5 years. Or investment B, in which P= $6300, r=6%, and t= 7years. Round to two decimal places. The value of certificate A will be what? And the value for investment B will be what? And
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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A certificate of deposit is worth P (1+r)t
dollars after t years, where r is the annual interest rate expressed as a decimal, and P is the amount initially deposited. Which investment will be worth more?
Investment A, in which P =$7300, r=4%, and t=5 years. Or investment B, in which P= $6300, r=6%, and t= 7years.
Round to two decimal places.
The value of certificate A will be what? And the value for investment B will be what? And which is worth more, A or B?
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