Answered: Larry invests in a $100 savings…

Larry invests in a $100 savings plan.The plan pays 41/2% interest each year on his account balance. How much money will Larry earn in interest after 3 years? After 5 years?

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section3.2: Solve Percent Applications

Problem 3.40TI: Susana invested a principal of $36,000 in her bank account with interest rate 6.5%. How much...

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Larry invests in a $100 savings plan.The plan pays 41/2% interest each year on

his account balance. How much money will Larry earn in interest after 3 years? After 5 years?

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