You deposit $13,000 in an account that pays 5.5% interest compounded quarterly. A. Find the future value after one year. B. Use the future value formula for simple interest to determine the effective annual yield. 1 Click the icon to view some finance formulas. ... A. The future value is $ (Round to the nearest cent as needed.)

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 23E
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You deposit $13,000 in an account that pays 5.5% interest compounded quarterly.
A. Find the future value after one year.
B. Use the future value formula for simple interest to determine the effective annual yield.
Click the icon to view some finance formulas.
A. The future value is $.
(Round to the nearest cent as needed.)
Transcribed Image Text:You deposit $13,000 in an account that pays 5.5% interest compounded quarterly. A. Find the future value after one year. B. Use the future value formula for simple interest to determine the effective annual yield. Click the icon to view some finance formulas. A. The future value is $. (Round to the nearest cent as needed.)
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