Suppose that Jethro deposits $2000 into an account which pays simple interest of 4% per annum, which we express as the r

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Suppose That Jethro Deposits 2000 Into An Account Which Pays Simple Interest Of 4 Per Annum Which We Express As The R 1 (156.37 KiB) Viewed 27 times

Suppose that Jethro deposits $2000 into an account which pays simple interest of 4% per annum, which we express as the rate r = 0.04. Simple interest means Jethro only earns interest on the principle $2000 investment. After one year the total in the account is $ * After 5 years the total in the account is $ Suppose that his friend Marlene deposits $1000 into an account which pays an interest rate of 3% per annum, which we express as the rate r 0.03, but compounded monthly. Note that this 3% per annum translates into the rate 0.25% per month. After 1 month Marlene's account = contains $ , and after 12 months (1 year) it would contain $ After three years it would contain $ * Note: you can leave complicated expressions like 2000 × (¹ evaluate. 1+ 13 35 35 for MapleTA to