Suppose your savings account pays 8% interest compounded quarterly. If you deposit $15,000 for two years, how much will you have at the end of the two years? The amount you will have after two years will be $ (Round to the nearest dollar.)
Suppose your savings account pays 8% interest compounded quarterly. If you deposit $15,000 for two years, how much will you have at the end of the two years? The amount you will have after two years will be $ (Round to the nearest dollar.)
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.S: Summary
Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?
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Transcribed Image Text:Suppose your savings account pays 8% interest compounded quarterly. If you deposit $15,000 for two years, how much will you have at the end of the two years?
The amount you will have after two years will be $
(Round to the nearest dollar.)
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