Complete the yellow cells in the table to determine the amount in the account at the...
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Complete the yellow cells in the table to determine the amount in the account at the end of the first 4 years. Remember that at the end of each year, the interest earned for that year is added to the beginning balance for the next year. The first one has been done for you. (Recall: interest - principal x rate x time OR I-prt) Year, t 1 2 3 4 1 2 Amount in Account at Start of Yeart $8000 Write a numerical expression Year for the amount in the account at the end of the year. 8000-1.05 4 $8400 t Complete the yellow cells in the table. Use the patterns you found when calculating compound interest to write expressions for the amount in the account at the end of each year. To assist, some of the numerical expressions have been done for you. (Note: To use the equation editor go to InsertEquation) [Select] Interest Earned During Year t [Select] $400 3 ((8000-1.05)-1.05)-1.05 [Select] No expression needed (Select) Amount in Account) at End of Year t Write the expression using an exponent. 8000(1.05)¹ $8400 8000(1.05) [Select) Complete the yellow cells in the table to determine the amount in the account at the end of the first 4 years. Remember that at the end of each year, the interest earned for that year is added to the beginning balance for the next year. The first one has been done for you. (Recall: interest - principal x rate x time OR I-prt) Year, t 1 2 3 4 1 2 Amount in Account at Start of Yeart $8000 Write a numerical expression Year for the amount in the account at the end of the year. 8000-1.05 4 $8400 t Complete the yellow cells in the table. Use the patterns you found when calculating compound interest to write expressions for the amount in the account at the end of each year. To assist, some of the numerical expressions have been done for you. (Note: To use the equation editor go to InsertEquation) [Select] Interest Earned During Year t [Select] $400 3 ((8000-1.05)-1.05)-1.05 [Select] No expression needed (Select) Amount in Account) at End of Year t Write the expression using an exponent. 8000(1.05)¹ $8400 8000(1.05) [Select)
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Solution Part a Year Part b Year t 1 2 3 4 Amount in Account at Start Interst Earned of Y... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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