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,...
Related questions
Question
What is the balance of Kristen’s $3000 after 8 years?
![Mrs.Galicia gave her sisters $3000 each to invest for future higher education plans. The investment will last 8
years.
The table below shows what each sister did with their investment and how it changed over the course of the 8
years:
Child
Performance of Investments Over the Course of the Competition
Michelle
$2000 earned 3.5% annual interest compounded monthly
$1000 grew, compounded continuously at rate of 1.8% annualy
$2500 earned 1.2% annual interest compounded quarterly
Kristen
$500 increase in value at a rate of 2.25% compounded quarterly
Gabriella
$3000 grew, compounded continuously at rate of 2.2% annually
Judy
$1050 earned exponentially at a rate of 2.5% annually
$1950 earned 2.8% annual interest compounded biannually (twice a year)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F29b98371-7ebf-4a91-8005-fc4f5b30ff0b%2F8d5d8d66-c641-425e-b888-0fa8b7576ebe%2Fd26kd53_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Mrs.Galicia gave her sisters $3000 each to invest for future higher education plans. The investment will last 8
years.
The table below shows what each sister did with their investment and how it changed over the course of the 8
years:
Child
Performance of Investments Over the Course of the Competition
Michelle
$2000 earned 3.5% annual interest compounded monthly
$1000 grew, compounded continuously at rate of 1.8% annualy
$2500 earned 1.2% annual interest compounded quarterly
Kristen
$500 increase in value at a rate of 2.25% compounded quarterly
Gabriella
$3000 grew, compounded continuously at rate of 2.2% annually
Judy
$1050 earned exponentially at a rate of 2.5% annually
$1950 earned 2.8% annual interest compounded biannually (twice a year)
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