signment

Question $2,$ P$5-2($similar to$)$

Part $1$ of $10$

HW score: $67\mathrm{.}5\%,13\mathrm{.}5$ of $20$ points

Points: $0$ of $1$

$($Related to Checkpoint $5\mathrm{.}2)($Future value$)$ Leslie Mosallam, who recently sold her Porsche, placed $$9,000$ in a savings account paying annual compound interest of $5$ percent.

a$.$ Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for $3,7,$ and $17$ year$($s$).$

b$.$ Suppose Leslie moves her money into an account that pays $7$ percent or one that pays $9$ percent. Rework part $($a$)$ using $7$ percent and $9$ percent.

c$.$ What conclusions can you draw about the relationship between interest rates, time, and future sums from the calculations you just did?

a$.$ After placing $$9,000$ in a savings account paying annual compound interest of $5$ percent, the amount of money that will accumulate if Leslie leaves the money in the bank for $3$ year$($s$)$ is $ $($Round to the nearest cent.$)$

Clear all

Prees answer