A high-rate savings account pays interest of 3.05%. Interest is calculated on the daily closing balance and
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A high-rate savings account pays interest of 3.05%. Interest is calculated on the daily closing balance and paid at the close of business on the last day of the month. A depositor had a $7255 opening balance on November 1, withdrew $520 on November 17, and deposited $915 on November 21. What interest will be credited to the account at the month’s end?
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Related Book For
Business Mathematics In Canada
ISBN: 9781260065992
10th Edition
Authors: F. Ernest Jerome, Tracy Worswick
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