Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.) Principal Time Period (years) Nominal Rate (%) Interest Compounded Compound Amount Compound Interest $22,000 16 5 annually $ $
Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.) Principal Time Period (years) Nominal Rate (%) Interest Compounded Compound Amount Compound Interest $22,000 16 5 annually $ $
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 6GP
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Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.)
Principal | Time Period (years) |
Nominal Rate (%) |
Interest Compounded |
Compound Amount |
Compound Interest |
---|---|---|---|---|---|
$22,000 | 16 | 5 | annually | $ | $ |
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