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I answered problem a. However, i'm having trouble with questions b-f. (Related to Checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money
I answered problem a. However, i'm having trouble with questions b-f.
(Related to Checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Account Holder Theodore Logan III Vernell Coles Tina Elliot Wayne Robinson Eunice Chung Kelly Cravens Amount Deposited $ 900 94,000 8,000 122,000 29,000 17,000 Annual Interest Rate 18 % 10 10 8 18 8 Compounding Compounding Periods Per Year (M) Periods (Years) 3 5 1 2 4 5 12 5 2 4 6 3 a. The amount of money in Theodore Logan IIl's account at the end of 5 years will be $ 2156.90. (Round to the nearest cent.) b. The amount of money in Vernell Coles' account at the end of 2 year(s) will be $ (Round to the nearest cent.)Step by Step Solution
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