Robbie opens an account at a local bank by depositing $100. The account pays 2.4% interest, compounded
Question:
Robbie opens an account at a local bank by depositing $100. The account pays 2.4% interest, compounded weekly. He deposits $100 every week for 3 years.
a. How much is in the account after 3 years?
b. Write the future value function if x represents the number of weeks.
c. Use a graphing calculator to graph the future value function.
d. Using the graph, what is the approximate balance after 2 years?
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Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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