1. Consider the following savings account statement: (a) What interest rate is this bank paying? (b) Give...

Question:

1. Consider the following savings account statement:

2/1/17 1/1/17 3/1/17 Deposit $10,000.00 Withdrawal Interest $20.00 $20.04 $10,000.00 s10,020.00 s10,040.04 Balance

(a) What interest rate is this bank paying?
(b) Give the interest and balance on 4/1/17.
(c) Give the interest and balance on 1/1/19.
2. Consider the following savings account statement:

1/1/17 4/1/17 7/1/17 Deposit $10,000.00 Withdrawal Interest $40.00 $40.16 $10,000.00 s10,040.00 $10,080.16 Balance

(a) What interest rate is this bank paying?
(b) Give the interest and balance on 10/1/17.
(c) Give the interest and balance on 1/1/19.

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Finite Mathematics and Its Applications

ISBN: 978-0134768632

12th edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

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Question Posted: Feb 12, 2018 09:22 AM

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1. Consider the following savings account statement: (a) What interest rate is this bank paying? (b) Give...

Question:

2/1/17 1/1/17 3/1/17 Deposit $10,000.00 Withdrawal Interest $20.00 $20.04 $10,000.00 s10,020.00 s10,040.04 Balance 1/1/17 4/1/17 7/1/17 Deposit $10,000.00 Withdrawal Interest $40.00 $40.16 $10,000.00 s10,040.00 $10,080.16 Balance

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1 a r 12 1000000 2000 so r 0024 24 compounded monthly b 1002 3 10...View the full answer

Finite Mathematics and Its Applications

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