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Unformatted text preview: >x 1.0521 +1< >x 1.0521 +1< >x 1.0521 +1< +1< +1< >x 1.0521 >x 1.0521 Eric Johnston 10/07/07 POW III First Paycheck!!!! You just got your first check for $136.18 from your summer job of flipping burgers. Instead of most kids, you decide to put the entire thing into a money market with the $1000 you have in savings and leave it alone for six years and see how much has accumulated until you are out of college. Your dad notices you have problems in math class so he decided to give you a problem to solve before you are allowed to put it into a money market. YEAR M.M. 1 1 $1195.37 2 $1257.65 3 $1323.17 4 $1392.01 5 $1464.64 He tells you to figure out an equation for the projected amounts in your money market account. He will not let you invest it until you figure out an equation by hand for the account balance and what the interest rate is. He makes you do it by hand first then check it with a calculator afterwards. Afterwards get out your TI-83 and use the lists, graph, and expreg() feature. Show all work and sketch your graph Now that you have the equation your dad lets you invest it. But he only projected the next five years. What will your total account balance be after six years of waiting? How much total interest did you make in the six years? First Paycheck!!!! Eric Johnston 10/07/07 POW III You just got your first check for $136.18 from your summer job of flipping burgers. Instead of most kids, you decide to put the entire thing into a money market with the $1000 you have in savings and leave it...
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This homework help was uploaded on 04/19/2008 for the course MAED 276 taught by Professor Howard during the Fall '08 term at SUNY Fredonia.
- Fall '08