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You deposit $2000 into a savings account with an APR of 5.3%. Complete parts (a) through (c) below. (a) Compute the amou
Posted: Wed Jul 06, 2022 11:54 am
by answerhappygod
- You Deposit 2000 Into A Savings Account With An Apr Of 5 3 Complete Parts A Through C Below A Compute The Amou 1 (115.5 KiB) Viewed 10 times
You deposit $2000 into a savings account with an APR of 5.3%. Complete parts (a) through (c) below. (a) Compute the amount of interest you gain after 1 year. (Round to the nearest dollar as needed.) (b) To compute the amount of money in the savings account at the end of 1 year, take the original value and add interest: $2000 +5.3% $2000. This is equivalent to multiplying $2000 by what factor? (Round to three decimal places as needed.) (c) Fill in the following table, one year at a time: (Round to the nearest cent as needed) Year Beginning $2000 1 2 3 14 S S $ Interest S IS End S S S S