Question
An amount of $1300 is deposited for 9 years in an account that earns 7% interest. (Round your answers to two decimal places.) (a) Calculate
An amount of $1300 is deposited for 9 years in an account that earns 7% interest. (Round your answers to two decimal places.)
(a) Calculate the simple interest earned. $ (b) Calculate the interest earned if interest is compounded daily. $ (c) How much more interest is earned on the account when the interest is compounded daily?
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Analysis Of Financial Data
Authors: Gary Koop
1st Edition
0470013214, 978-0470013212
