Unformatted text preview: ly?
c) quarterly? d) monthly?
e) daily? 1)
Ex: A total of $12,000 is invested at an annual percentage rate of 9%.
Find the balance after 5 years if interest is compounded quarterly. 2) Kelly plans to put her graduation money into an account and leave it there for 4 years while she goes to college. She receives $750 in graduation money that she puts it into an account that earns 4.25% interest compounded semiannually. How much will be in Kelly’s account at the end of four years? 3) William wants to have a total of $4000 in two years so that he can put a hot tub on his deck. He finds an account that pays 5% interest compounded monthly. How much should William put into this account s...
View Full Document
- Fall '11
- Annual Percentage Rate, William