3. Suppose $100,000 is invested in an account that pays 6.75% annual interest, compounded monthly. a....

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3. Suppose $100,000 is invested in an account that pays 6.75% annual interest, compounded monthly. a. If no money is deposited or withdrawn, what will the balance be after 10 years? b. If $100 is added to the account every month just after the interest is compounded, what will the balance be after 10 years? 4. A mortgage of $100,000 is to be paid off in exactly 30 years. If the annual interest rate is 9.25%, compounded monthly, what will the monthly payment be? 5. A small country has a population of 2.2 million people. Each year about 3% of the previous year's population dies or leaves the country and about 81,000 people are born or immigrate to the country. If this pattern continues, what will the population be in 5 years? What will the population be in the long run? 6. Give the recursive formula for a sequence whose graph fits the given description. a. Linear and decreasing b. Nonlinear and increasing, with a long-run value that is not zero c. Nonlinear and decreasing 3. Suppose $100,000 is invested in an account that pays 6.75% annual interest, compounded monthly. a. If no money is deposited or withdrawn, what will the balance be after 10 years? b. If $100 is added to the account every month just after the interest is compounded, what will the balance be after 10 years? 4. A mortgage of $100,000 is to be paid off in exactly 30 years. If the annual interest rate is 9.25%, compounded monthly, what will the monthly payment be? 5. A small country has a population of 2.2 million people. Each year about 3% of the previous year's population dies or leaves the country and about 81,000 people are born or immigrate to the country. If this pattern continues, what will the population be in 5 years? What will the population be in the long run? 6. Give the recursive formula for a sequence whose graph fits the given description. a. Linear and decreasing b. Nonlinear and increasing, with a long-run value that is not zero c. Nonlinear and decreasing

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Following are the answers of the given questions Question 3 a Ans The formula of compound interest i... View the full answer