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answers are attached as well thanks 2.1.5 Since June 30, 2014 Smith has been making deposits of 100 each into a bank account on the
answers are attached as well thanks
2.1.5 Since June 30, 2014 Smith has been making deposits of 100 each into a bank account on the last day of each month. For all of 2014 and 2015 Smith's account earned nominal interest com- pounded monthly at an annual rate of 9%. For the first 9 months of 2016 the account earned ;(12) = .105, and since then the ac- count has been earning i(12) = .12. Find the balance in the account on each of the following days: (i) January 1, 2015, (ii) January 1, 2016, and (iii) February 1, 2017 Find the amount of interest credited on February 28, 2017. 2.1.5 (i) 715.95, (ii) 2,033.87, (iii) 3,665.12, interest = 36.65Step by Step Solution
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