Answered: $2000 is deposited on March 1 and $1000…

$2000 is deposited on March 1 and $1000 on April 1 in a bank that pays 4% interest. What is the total amount in the bank on June 1? What is the interest earned? use months

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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$2000 is deposited on March 1 and $1000 on April 1 in a bank that pays 4% interest. What is the total amount in the bank on June 1? What is the interest earned? use months

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