Question
a) Consider a $3,000 deposit earning 9 percent interest per year for four years. What is the future value? (Do not round intermediate calculations and
a)
Consider a $3,000 deposit earning 9 percent interest per year for four years. |
What is the future value? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
Future value | $ |
How much total interest is earned on the original deposit? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
Total interest earned | $ |
How much is interest earned on interest? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
Interest earned on interest
b)
c)
| $ |
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