Question
Ben placed the capital received in a 7,800 high-interest time account with an annual interest rate of 8.37 percent (p.a.). The principal was in the
Ben placed the capital received in a 7,800 high-interest time account with an annual interest rate of 8.37 percent (p.a.). The principal was in the account for 8 years and 186 days, when the interest rate was determined by paying interest on the full interest periods at the above-mentioned annual interest rate. Simple interest was paid for the short interest periods, the annual interest rate of which was half of the above annual interest rate, and the principal was defined here as the capital at the end of the last full interest period. How much was his capital at the end of the savings period?
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Algebra and Trigonometry
Authors: Ron Larson
10th edition
9781337514255, 1337271179, 133751425X, 978-1337271172
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