Question
When Grandpa William passed away, Thomas inherited $13000 in an account that earned 2.65% annual interest compounded quarterly. The money stayed in the account for
When Grandpa William passed away, Thomas inherited $13000 in an account that earned 2.65% annual interest compounded quarterly. The money stayed in the account for 19 years and no other deposits or withdrawals were made during this period.
How much did Thomas have in this account after 19 years?
When Grandpa William passed away, Thomas inherited $10000 in an account that earned 2.75% annual interest compounded quarterly. The money stayed in the account for 21 years and no other deposits or withdrawals were made during this period.
How much interest did Thomas earn after 21 years?
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
