If you deposit $100 in a savings account at the end of each month for 2 years,
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If you deposit $100 in a savings account at the end of each month for 2 years, the balance will be a function f(r) of the interest rate, r%. At 7% interest (compounded monthly), f(7) = 2568.10 and f′(7) = 25.06. Approximately how much additional money would you earn if the bank paid 7(12)% interest?
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Related Book For
Calculus And Its Applications
ISBN: 9780134437774
14th Edition
Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar
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