Question: PLEASE NOTE THIS IS A WHOLE QUESTION You deposit $9,500 into a bank account and leave it there for 8 years at an interest rate
PLEASE NOTE THIS IS A WHOLE QUESTION You deposit $9,500 into a bank account and leave it there for 8 years at an interest rate of 2.1%.
(Remember: money is rounded 2 decimal places)
How much will you have at the end of 8 years if the interest is compounded semi-annually?
How much will you have at the end of 8 years if the interest is compounded annually?
How much will you have at the end of 8 years if the interest is compounded quarterly?
How much will you have at the end of 8 years if the interest is compounded monthly?
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