EXERCISES: Fill in the correct values. Show your solutions. m Principal (P) Term Interest (P) r 9% 6 years semi-annually Balance (P) 45,025.65 412 122.25

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.3: Geometric Sequences
Problem 80E
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EXERCISES: Fill in the correct values. Show your solutions.
Interest (P) Balance (P)
45,025.65
413,122.25
Principal (P)
Term
semi-annually
daily
annually
monthly
ENRICHMENT: Suppose that you want to deposit your P 65,000 in an
account for 5 years. Bank A offers an 8% simple interest rate while
Bank B offers also an 8% interest rate, but compounded annually. In
which bank do you think you can earn more? Justify your answer by
9%
6 years
10%
120 months
8.5 years
273,050.67 8.6%
34,564.54 12.3%
59,783.595
years
showing your calculations.
Transcribed Image Text:EXERCISES: Fill in the correct values. Show your solutions. Interest (P) Balance (P) 45,025.65 413,122.25 Principal (P) Term semi-annually daily annually monthly ENRICHMENT: Suppose that you want to deposit your P 65,000 in an account for 5 years. Bank A offers an 8% simple interest rate while Bank B offers also an 8% interest rate, but compounded annually. In which bank do you think you can earn more? Justify your answer by 9% 6 years 10% 120 months 8.5 years 273,050.67 8.6% 34,564.54 12.3% 59,783.595 years showing your calculations.
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