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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 107
To establish a "rainy day" cash reserve account, Bonanza Industries deposits $10,000 of its profit at the end of each quarter into a money market account that pays 1.75% interest compounded quarterly.
a. How much will the account be worth in 3 years?
b. How much will the account be worth in 41 2 years?
a. How much will the account be worth in 3 years?
b. How much will the account be worth in 41 2 years?
Explanation
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Calculating the future value of an ordin...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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