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55-56 - Compound Interest An investment of $5000 is depos- ited into an account in which interest is compounded monthly. Complete the table by filling in the amounts to which the invest- ment grows at the indicated times or interest rates. 56. 1 = 5 years 55. r= 4% Time Rate (years) Amount per year Amount 1% 2% 3 3% 4 4% 5 5% 6. 6%

55-56 - Compound Interest An investment of $5000 is depos- ited into an account in which interest is compounded monthly. Complete the table by filling in the amounts to which the invest- ment grows at the indicated times or interest rates. 56. 1 = 5 years 55. r= 4% Time Rate (years) Amount per year Amount 1% 2% 3 3% 4 4% 5 5% 6. 6%

Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.1: Exponential Functions
Problem 56E
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55-56 - Compound Interest An investment of $5000 is depos- ited into an account in which interest is compounded monthly. Complete the table by filling in the amounts to which the invest- ment grows at the indicated times or interest rates. 56. 1 = 5 years 55. r= 4% Time Rate (years) Amount per year Amount 1% 2% 3 3% 4 4% 5 5% 6. 6%
Transcribed Image Text:55-56 - Compound Interest An investment of $5000 is depos- ited into an account in which interest is compounded monthly. Complete the table by filling in the amounts to which the invest- ment grows at the indicated times or interest rates. 56. 1 = 5 years 55. r= 4% Time Rate (years) Amount per year Amount 1% 2% 3 3% 4 4% 5 5% 6. 6%
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