Sofia made a deposit of $600 into a bank account that earns interest at 3.5% com- pounded
Question:
(a) Find the balance of the account at the end of the period.
(b) How much interest is earned?
(c) What is the effective rate of interest?
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PV 60000 i 0291 n 60 C Y 12 a FV 60000 1002916 60 60000 1190943 71457 ...View the full answer
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Related Book For 
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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