- Question 9 Of 9 B How Much Interest Is Earned C What Is The Effective Rate Of Interest Carol Made A Deposit Of 14 1 (152.09 KiB) Viewed 35 times
Question 9 of 9 (b) How much interest is earned? (c) What is the effective rate of interest? Carol made a deposit of $1464.00 into a bank account that earns interest at 6.2% compounded semi-annually. The deposit earns interest at that rate for three years. (a) Find the balance of the account at the end of the period. (a) The balance at the end of the period is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest earned is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) > (c) The effective rate of interest is (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.) This te This qu