Basic College Mathematics (9th Edition)

by Lial, Margaret L.; Salzman, Stanley A.; Hestwood, Diana L.

Published by Pearson

ISBN 10: 0321825535

ISBN 13: 978-0-32182-553-7

Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 456: 24

Answer

Compound Amount: 11255 Interest: 1255

Work Step by Step

Compound interest table for 3%, 4 years is 1.1255 $10000\times1.1255 = 11255.00$ (compound amount) $11255.00 - 10000 = 1255.00$ (interest)

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