You deposit $3000 into a savings account with an APR of 5.8%. Complete parts (a) through (c) below. < (a) Compute the amount of interest you gain after 1 year. (Round to the nearest dollar as needed.) (b) To compute the amount of money in the savings account at the end of 1 year, take the original value and add interest: $3000 +5.8% $3000. This is equivalent to multiplying $3000 by what factor? (Round to three decimal places as needed.) (c) Fill in the following table, one year at a time: (Round to the nearest cent as needed.) Year Beginning $3000 1 3 $ S $ Interest $ $ $ End (...) S $ $
You deposit $3000 into a savings account with an APR of 5.8%. Complete parts (a) through (c) below. < (a) Compute the amount of interest you gain after 1 year. (Round to the nearest dollar as needed.) (b) To compute the amount of money in the savings account at the end of 1 year, take the original value and add interest: $3000 +5.8% $3000. This is equivalent to multiplying $3000 by what factor? (Round to three decimal places as needed.) (c) Fill in the following table, one year at a time: (Round to the nearest cent as needed.) Year Beginning $3000 1 3 $ S $ Interest $ $ $ End (...) S $ $
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section: Chapter Questions
Problem 5P
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The table last to 5
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