Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

تمرين 60

Samantha Wimberly is planning a vacation in Europe in 4 years, after graduation. She estimates that she will need $3,500 for the trip.
a. if her bank is offering 4-year certificates of deposit with 8% interest compounded quarterly, how much must Samantha invest now to have the money for the trip
b. How much compound interest will be earned on the investment