John won a lottery ticket and deposit all of it in a bank that pays 8% annual interest compounded quarterly. After 10 years his balance is $20,000. How much has he won from the lottery ticket.
John won a lottery ticket and deposit all of it in a bank that pays 8% annual interest compounded quarterly. After 10 years his balance is $20,000. How much has he won from the lottery ticket.
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.49TI: Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much...
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John won a lottery ticket and deposit all of it in a bank that pays 8% annual interest compounded quarterly. After 10 years his balance is $20,000.
How much has he won from the lottery ticket.
Use three digits after decimal when calculating.
For your final answer, round to two digits after decimal.
Select the closest answer.
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