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George has $1800 in his bank account today. He plans to deposit $1000 in 11 months. He also plans to withdraw $1100 in 17 months.
George has $1800 in his bank account today. He plans to deposit $1000 in 11 months. He also plans to withdraw $1100 in 17 months. He earns interest at 6% p.a. compounded monthly. Which of the following can be used to find the balance (X) of his bank account in 2 years? (There may be more than one correct answer. You will lose marks by choosing a wrong answer. The minimum mark for the question is zero.) Select one or more: a. b. c. d. e. None of the options can be used to find the remaining balance.
Select one or more: 11 17 0.06 a. X= 1800 + 1000 *(1+ 12 - 1100 + (1+ b. (1+0,00) (1+0,062 0,05) 13*12 0.06 1800 *(1 + 12 (1+002 24*12 + 1000 *(1+ 7*12 +X = 1100 * (1+ C. -11 0.06 0.06 -17 -24 0.06 1800 + 1000 *(1+. = 1100 *(1 + +X1 + 12 12 12 d. X = 1800 * (1 + 0.06 )24 + 1000 *(1 + 0.06 )13 1100 * (1 + 0.06)? e. None of the options can be used to find the remaining balance. 24 0.06 13 7 0.06 0.06 1800 *(1 + + 1000 *(1 +- = 1100 *(1+ + X 12 12 12 f. (1+0,06)Step by Step Solution
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