Note :

In a General Annuity the interest period does not match the payment period.

That means that each question requires a two-step solution

Step 1 - find the equivalent interest rate to match the payment period. Do not round this interest rate

Step 2 - use the appropriate formula, Sn or An.

If you do not recognize the general annuity and skip Step 1, you will score 0% on Test 4.

Question content area top

Part 1

Julia

saves

$28

at the end of each

week

and deposits the money in an account paying

10%

compounded

monthly.

How much will

Julia

accumulate in

3

years? How much of the accumulated amount is interest?

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Part 1

Julia

will accumulate

$enter your response here

in

3

years.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Part 2

After

3

years,

$enter your response here

of the accumulated amount is interest.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)