The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Answer parts (a) and (b). Principal Rate Compounded Time $9000 4.5% Monthly 2 Years a. Find how much money there will be in the account after the given number of years. The amount of money in the account after 2 years is? (Round to the nearest hundredth as needed.)
The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Answer parts (a) and (b). Principal Rate Compounded Time $9000 4.5% Monthly 2 Years a. Find how much money there will be in the account after the given number of years. The amount of money in the account after 2 years is? (Round to the nearest hundredth as needed.)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Answer parts (a) and (b).
|
Principal | Rate | Compounded | Time |
$9000 | 4.5% | Monthly | 2 Years |
a. Find how much money there will be in the account after the given number of years.
The amount of money in the account after 2 years is?
(Round to the nearest hundredth as needed.)
b. Find the interest earned.
The amount of interest earned is?
(Round to the nearest hundredth as needed.)
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