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Suppose you deposit $4,000 for 8 years at a rate of 7%.
5
Points
Asked by dadany 4 months ago in science
Calculate the return (A) if the bank compounds annually (n = 1). Round your answer to the hundredth's place.
Answer:
Show work in this space. Use ^ to indicate the power or use the Equation Editor in MS Word.

Calculate the return (A) if the bank compounds monthly (n = 12). Round your answer to the hundredth's place.

Answer:
Show work in this space
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papade dennis / family man
Answered 4 months ago
-
$510950.30
the rest is up to you.
joensf joe
Answered 4 months ago
-
here a compounding calculator to check your answer

http://www.moneychimp.com/calculator/com...
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