View the step-by-step solution to:

Question

Using the compound interest tables:


a. what amount of interest will be earned on an investment

of $10,500 left on deposit by Marcy for three years at 9% interest compounded annually?

b. Travis deposited $10,000 in a fund that earns 8% interest compounded annually. How many years will it take for the fund to grow to $21,598.25?

Top Answer

The future value of $1 table shall... View the full answer

1.JPG

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question