solve the application problem . if no interest rate is given assume 3 1/2 % interest compounded daily. On Oct 1, The Bakery opened a savings account with deposit of 17,600 . A withdrawl of 7500 was made 15 days later and another withdrawal of 400 was made 8 days before January 1 . Find the balance on January 1

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solve the application problem . if no interest rate is given assume 3 1/2 % interest compounded daily. On Oct 1, The Bakery opened a savings account with deposit of 17,600 . A withdrawl of 7500 was made 15 days later and another withdrawal of 400 was made 8 days before January 1 . Find the balance on January 1
Number
of Days
Value
Valee
Valne
Valee
Vale
of
of
of
of
(1+
(1+ i
(1+1Y
(1+0
1.005260
(1+
1007024219
1.000095890
19
1.001821
37
55
73
1000191790
1001919556
20
21
22
23
24
25
26
27
28
29
30
38
39
56
74
57
LIIS 54
25
4
100 17
L00211714
1002TH
40
58
10
42
43
41
77
100067540
1.00067146
60
1.00 21
10026141
L02271
LO 42
1007
61
44
45
10
10
1000918
1,00108300
L001151292
13
100
100451
47
1002MI
LANSI
83
12
1000716
100
100124729
31
49
1007o
100 e
51
14
1001343300
32
15
LO014322
33
16
34
70
17
35
53
71
18
L001727435
36
54
Note The vala ol (1+r conpondd dai anar wi di d eeid dmis L NcER
Compound Interest for Time Deposit Accounts Compounded Daily
Number
of Years
Number
of Years
1%
2%
3%
4%
1,01005003 1.02020078 1.03045326 1.04OS0849 1.05126750
1.02020106 1.04080963 1.06183393 1.08328232 L10516335
1.
3.
1.03045411 1L.06183480 1.09417024 1.12748944 L.16182231
1.04081020 1.08328469 1.12749129 1.17350058 1.2213s603
1.05127038 1.10516789 1.16182708 1.22138937 128400343
3.
10
1.10516940 1.22139607 134984217 149179200 164866481
10
On October 1, The Bakery opened a savings account with a deposit of $17,600.
before January 1. Find the balance on January 1.
$9799 07
59799 29
59799 80
SP799 45
Transcribed Image Text:Number of Days Value Valee Valne Valee Vale of of of of (1+ (1+ i (1+1Y (1+0 1.005260 (1+ 1007024219 1.000095890 19 1.001821 37 55 73 1000191790 1001919556 20 21 22 23 24 25 26 27 28 29 30 38 39 56 74 57 LIIS 54 25 4 100 17 L00211714 1002TH 40 58 10 42 43 41 77 100067540 1.00067146 60 1.00 21 10026141 L02271 LO 42 1007 61 44 45 10 10 1000918 1,00108300 L001151292 13 100 100451 47 1002MI LANSI 83 12 1000716 100 100124729 31 49 1007o 100 e 51 14 1001343300 32 15 LO014322 33 16 34 70 17 35 53 71 18 L001727435 36 54 Note The vala ol (1+r conpondd dai anar wi di d eeid dmis L NcER Compound Interest for Time Deposit Accounts Compounded Daily Number of Years Number of Years 1% 2% 3% 4% 1,01005003 1.02020078 1.03045326 1.04OS0849 1.05126750 1.02020106 1.04080963 1.06183393 1.08328232 L10516335 1. 3. 1.03045411 1L.06183480 1.09417024 1.12748944 L.16182231 1.04081020 1.08328469 1.12749129 1.17350058 1.2213s603 1.05127038 1.10516789 1.16182708 1.22138937 128400343 3. 10 1.10516940 1.22139607 134984217 149179200 164866481 10 On October 1, The Bakery opened a savings account with a deposit of $17,600. before January 1. Find the balance on January 1. $9799 07 59799 29 59799 80 SP799 45
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