Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3-4 please If $8,750 is deposited in an account earning interest at 2.75% for 7 years, what is the ending balance if it is compounded

3-4 please
image text in transcribed
image text in transcribed
If $8,750 is deposited in an account earning interest at 2.75% for 7 years, what is the ending balance if it is compounded continuously? Format answer rounded to 2 decimal places, with no dollar signs, no spaces, and no commas. Examples: 4365.17 12135.00 Your Answer: If $19,000 is deposited in an account earning interest at 4.95% for 6 years, what is the ending balance if it is compounded weekly? Format answer rounded to 2 decimal places, with no dollar signs, no spaces, and no commas. Examples: 4365.17 12135.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Employee Management

Authors: Kelli W. Vito, SPHR, CCP

1st Edition

0894137190, 9780894137198

More Books

Students also viewed these Accounting questions

Question

2. List the advantages of listening well

Answered: 1 week ago