Pls do fast and i will rate instantly for sure Solution must be in typed form .A) Jada deposited an amount of money in a bank 6 years ago. If the bank had been paying interest at the rate of 6%/year compounded daily (assume a 365-day year) and she has $27,000 on deposit today, what was her initial deposit? (Round your answer to the nearest cent.) B) How long will it take $10,000 to grow to $12,000 if the investment earns interest at the rate of 5%/year compounded monthly? (Round your answer to one decimal place.)
Pls do fast and i will rate instantly for sure Solution must be in typed form .A) Jada deposited an amount of money in a bank 6 years ago. If the bank had been paying interest at the rate of 6%/year compounded daily (assume a 365-day year) and she has $27,000 on deposit today, what was her initial deposit? (Round your answer to the nearest cent.) B) How long will it take $10,000 to grow to $12,000 if the investment earns interest at the rate of 5%/year compounded monthly? (Round your answer to one decimal place.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Solution must be in typed form
.A) Jada deposited an amount of money in a bank 6 years ago. If the bank had been paying interest at the rate of 6%/year compounded daily (assume a 365-day year) and she has $27,000 on deposit today, what was her initial deposit? (Round your answer to the nearest cent.)
B) How long will it take $10,000 to grow to $12,000 if the investment earns interest at the rate of 5%/year compounded monthly? (Round your answer to one decimal place.)
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