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I need work shown for all three of these please. 7. A deposit of $400 was made on March 10, 2016 into an account that
I need work shown for all three of these please.
7. A deposit of $400 was made on March 10, 2016 into an account that earns 6% compounded monthly. Interest is earned on the first of each month. Using the Banker's Rule, determine the balance of the account on January 1, 2018 (5445.80) 8. Determine how long it will take 8800 to grow to S1000 at 9% compounded quarterly. Give answer to the nearest number of days. Use the Banker's Rule. 9. A loan of S1000 was settled with a payment of $117. If the interest rate on the loan was 5% compounded semiannually, determine the term of the loan. Use a 360 day year and give your answer to the nearest day. (3 years, 3 months and 6 days) TiStep by Step Solution
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