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Find the requested value and identify each of the other values as the periodic rate, the number of periods, the principal, or the future value. (a) Find S:  S = 2,000(1 + 0.04)24.  (Round your answer to two decimal places.) S = $  Identify each of the other values as the periodic rate, the number of periods, the principal, or the future value. (b) Find P:  15,000 = P(1 + 0.02)36.

Find the requested value and identify each of the other values as the periodic rate, the number of periods, the principal, or the future value. (a) Find S:  S = 2,000(1 + 0.04)24.  (Round your answer to two decimal places.) S = $  Identify each of the other values as the periodic rate, the number of periods, the principal, or the future value. (b) Find P:  15,000 = P(1 + 0.02)36.

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Find the requested value and identify each of the other values as the periodic rate, the number of periods, the principal, or the future value.

(a) Find S: 
S = 2,000(1 + 0.04)24.
 (Round your answer to two decimal places.)
S = $ 

Identify each of the other values as the periodic rate, the number of periods, the principal, or the future value.

(b) Find P: 
15,000 = P(1 + 0.02)36.
 (Round your answer to two decimal places.)
P = $ 

Identify each of the other values as the periodic rate, the number of periods, the principal, or the future value.
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