Question
The Thompsons are saving up to go on a family vacation in 2 years. They invest $2500 into an account with an annual interest rate
The Thompsons are saving up to go on a family vacation in 2 years. They invest $2500 into an account with an annual interest rate of 1.23% compounded annually.
Don't round any intermediate computations, and round your final answers to the nearest cent.
| (a) | Assuming no withdrawals are made, how much money is in the Thompsons' account after 2 years? |
| (b) | How much interest is earned on the Thompsons' investment after 2 years? |
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Elementary Linear Programming With Applications
Authors: Bernard Kolman, Robert E Beck
2nd Edition
0080530796, 9780080530796
