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5). a. b. Rate The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal
5).
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Rate The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal $8000 Compounded daily Time 5 years 9% A. Find how much money there will be in the account after the given number of years. (Assume 360 days in a year.) B. Find the interest earned. A. The amount of money in the account after 5 years is $0. (Round to the nearest hundredth as needed.) 8.4.17 Question Help How much money should be deposited today in an account that earns 4% compounded semiannually so that it will accumulate to $11,000 in three years? The amount of money that should be deposited is $ (Round up to the nearest cent.)Step by Step Solution
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