Question
Jackie's parents invested a sum of money for her for 9 years. The investment earned an average of 7.5% compounded semi-annually. Jackie received $3500
Jackie's parents invested a sum of money for her for 9 years. The investment earned an average of 7.5% compounded semi-annually. Jackie received $3500 when the investment matured. How much did Jackie's parents invest? QUESTION 8 A principal of $870 amounts to $1105.10 after 2 years. The interest rate is compounded quarterly. What is the annual interest rate? QUESTION 9 - $1000 mounts to $1917 42 at 5.5% compounded annually. How long does it take (in years)?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
978-0133052312
