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Leslie Mosallam, who recently sold her Porsche, placed $ 9 , 6 0 0 in a savings account paying annual compound interest of 4 percent.
Leslie Mosallam, who recently sold her Porsche, placed $ in a savings account paying annual compound interest of percent.
aCalculate the amount of money that will accumulate if Leslie leaves the money in the bank for and years
bSuppose Leslie moves her money into an account that pays percent or one that pays percent. Rework part a using percent and percent.
cWhat conclusions can you draw about the relationship between interest rates, time, and future sums from the calculations you just did?
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