You deposit $12,000 in an account that pays 6% interest compounded quarterly. A. Find the future value after one year. B. Use the future value formula for simple interest to determine the effective annual yield. A. The future value is $enter your response here. B. The effective annual yield is enter your response here%
You deposit $12,000 in an account that pays 6% interest compounded quarterly. A. Find the future value after one year. B. Use the future value formula for simple interest to determine the effective annual yield. A. The future value is $enter your response here. B. The effective annual yield is enter your response here%
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.3: Geometric Sequences
Problem 80E
Related questions
Question
You deposit
$12,000
in an account that pays
6%
interest compounded quarterly.A. Find the future value after one year.
B. Use the future value formula for simple interest to determine the effective annual yield.
A. The future value is
$enter your response here.
B. The effective annual yield is
enter your response here%
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