Jay and Silent Bob have a savings account that earns a nominal annual interest rate of 4.5% compounded daily. Since March 1, 1992, they have deposited $15 into this account every day.

Previous Problem Problem List Next Problem (7 points) Jay and Silent Bob have a savings account that earns a nominal annual interest rate of 4.5% compounded daily. Since March 1, 1992, they have deposited $15 into this account every day. a) What will Jay and Silent Bob's balance be on February 28, 1996, immediately after they make their deposit? Answer = $ Click for a hint You are given i(365) b) How long will it take Jay and Silent Bob to save $60,000 in their account? Answer = days. c) Suppose that on March 1, 1995, Jay and Silent Bob withdrew $232 from their account. What will their balance be on February 28, 1996 immediately after they make their deposit? Answer = $ d) Suppose that starting February 29, 1996, Bob and Jay deposit $30 into their account instead of $15. What will their balance be on February 29, 2000, immediately after they make their deposit? Answer = $ Click for a hint Previous Problem Problem List Next Problem (7 points) Jay and Silent Bob have a savings account that earns a nominal annual interest rate of 4.5% compounded daily. Since March 1, 1992, they have deposited $15 into this account every day. a) What will Jay and Silent Bob's balance be on February 28, 1996, immediately after they make their deposit? Answer = $ Click for a hint You are given i(365) b) How long will it take Jay and Silent Bob to save $60,000 in their account? Answer = days. c) Suppose that on March 1, 1995, Jay and Silent Bob withdrew $232 from their account. What will their balance be on February 28, 1996 immediately after they make their deposit? Answer = $ d) Suppose that starting February 29, 1996, Bob and Jay deposit $30 into their account instead of $15. What will their balance be on February 29, 2000, immediately after they make their deposit? Answer = $ Click for a hint