Martin deposits $7,000 in an account at Victory Bank that earns simple interest at a rate of 3.25%. Find the amount of interest earned AND the total value of his account after 36 months. Interest earned: $ Total Value: $

Martin deposits $7,000 in an account at Victory Bank that earns simple interest at a rate of 3.25%. Find the amount of interest earned AND the total value of his account after 36 months. Interest earned: $ Total Value: $

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter2: Equations And Inequalities

Section2.3: Models And Applications

Problem 23SE: Paul has $20,000 to invest. His intent is to earn11% interest on his investment. He can invest part...

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Question

Martin deposits $7,000 in an account at Victory
Bank that earns simple interest at a rate of
3.25%. Find the amount of interest earned
AND the total value of his account after 36
months.
Interest earned: $
Total Value: $

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