2. How much does John need to have in his account now so that he will...

 

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2. How much does John need to have in his account now so that he will have $3,500 in 21 months (a) if the account earning 5% simple interest. (b) if the account is earning 5% interest compounded quarterly. 2. How much does John need to have in his account now so that he will have $3,500 in 21 months (a) if the account earning 5% simple interest. (b) if the account is earning 5% interest compounded quarterly.

Answer rating: 100% (QA)

a If the account is earning 5 simple interest we can use the formula for simple interest Simple Inte... View the full answer