FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A bank offers an investment account with an annual interest rate of 1.15% compounded monthly. Amanda invests $3800 into the account for 2 years. Answer

A bank offers an investment account with an annual interest rate of 1.15% compounded monthly. Amanda invests

$3800 into the account for 2 years. Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cent.

(a) Assuming no withdrawals are made, how much money is in Amanda's account after 2 years?
$
(b) How much interest is earned on Amanda's investment after 2 years?
$

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

Elementary Number Theory

Elementary Number Theory

Authors: James K Strayer

1st Edition

1478618507, 9781478618508

More Books

Students also viewed these Mathematics questions

Question

★★★★★
Gable Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows: _______________________________________Total sales...

Answered: 1 week ago

Question

★★★★★
You have been hired to examine Brahe Corporations financial statements for the year ending December 31, 2016. Brahe was organized in January 2016 by Moses and Price, the original owners of options to...

Answered: 1 week ago

Question

★★★★★
3 What is the view of change in narrative coaching? Can you draw some similarities and differences with the view of change in the previous chapters?

Answered: 1 week ago

Question

★★★★★
Some of the information found on a detailed inventory card for Soave Stationery Ltd. for May is as follows: Instructions (a) From the above data, calculate the ending inventory based on each of the...

Answered: 1 week ago

Question

★★★★★
Exercise 8-10A Double-declining-balance and units-of-production depreciation: gain or loss on disposal LO 8-3, 8-4 [The following information applies to the questions displayed below.) Exact Photo...

Answered: 1 week ago

Question

★★★★★
Current Attempt in Progress The following information is available for Blossom Company for the month of January: expected cash receipts $ 5 7 , 0 0 0 ; expe disbursements $ 6 6 , 0 0 0 ; and cash...

Answered: 1 week ago

Question

★★★★★
One scientist is measuring a physical quantity on a strange unit. For example, the time taken by the light to travel from a star to the earth was measured in units "BRT". If this unit has to make...

Answered: 1 week ago

Question

★★★★★
What is the variance and standard deviation of of 46.38, 46.18, 46.57, 46.72, 46.86, 46.58, 46.61, 46.64, 46.03, 45.93, 45.51, 45.53

Answered: 1 week ago

Question

★★★★★
Money Inc., a USA-based business has an acid test ratio of 3 times, and the value of the current assets including closing inventories (comprising of trade receivables of $2,000,000 and cash of...

Answered: 1 week ago

Question

★★★★★
we look at how companies use CRM, SCM, and ERP to gain a competitive advantage and run more efficiently. Find an industry/business or company currently using one of those technologies (CRM, SCM,...

Answered: 1 week ago

Question

★★★★★
1. What are the practices that Xerox used in its TQM implementation? Discuss. 2. What are some barriers that you think Xerox has faced during TQM implementation? Relate them. 3. Does TQM...

Answered: 1 week ago

Question

★★★★★
List five Agile elements. tools. roles that the company.r has applied in the Case Study that we have studied in our THE class. 1i Scrum - Using 4 - week sprints. 2i Kantian Board - with work...

Answered: 1 week ago

Question

★★★★★
4. What means will you use to achieve these values?

Answered: 1 week ago

Question

★★★★★
5. List three of what you would call your core values. For each of these core values, answer the following questions. a. What is the purpose of this value in your life? b. How does this value affect...

Answered: 1 week ago

Question

★★★★★
3. What values would you say are your core values?

Answered: 1 week ago

Previous Question Next Question