If the compound interest on 3,000 is 500 after two years, the compound interest on 3,000 after four years is

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
icon
Related questions
Question

Q)solve both subparts correctly and not use excel

a.) If the compound interest on 3,000 is 500 after two years, the compound interest on 3,000 after four years is

b.)Beginning January 1, 1982, Mr. Cruz's salary is increased by 30.01% every two years. When counting backwards from that date, when will his pay be just over twice as much as it was before?

box final answer please:) upto 4 decimal places only

Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer