Anne deposits $12,000 for 8 yr in an account paying 2.5% interest compounded annually. She then leaves
Question:
Anne deposits $12,000 for 8 yr in an account paying 2.5% interest compounded annually. She then leaves the money alone with no further deposits at 3% interest compounded annually for an additional 6 yr. Find the total amount on deposit after the entire 14-yr period.
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Step by Step Answer:
First substitute P 12000 r 0025 t 8 and n 1 into the form...View the full answer
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Related Book For 
College Algebra
ISBN: 978-0134697024
12th edition
Authors: Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
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