Calculus for Bus& Econ l-Math1378 PT0-FALL 2017 Homework: Section 10.4 Homework

Question

Calculus for Bus& Econ l-Math1378 PT0-FALL 2017 Homework: Section 10.4 Homework Score: 0 of 1 pt Bus Econ 10.4.1 Save Score: 0%. 0 of 2 pts Question Help * deposts $8,000 nto an a count that pays 2% compounded co tnousiy, and then de osts money into the ac ont con mo siy at a ate of $2.400 per year How much we be an the a count aner 9 years? Anr est her 9 years the account baiance will be approximately $ Round to the nearest cent as needed) Enter your answer in the answer box and then click Check Aswer All parts showing Clear All

Explanation / Answer

after 9 years the account balance will be $33,631.29

Schedule Year Opening Deposit Interest @2% Closing 0 $                 -   $ 8,000.00 $ 160.00 $    8,160.00 1 $    8,160.00 $ 2,400.00 $           211.20 $ 10,771.20 2 $ 10,771.20 $ 2,400.00 $ 263.42 $ 13,434.62 3 $ 13,434.62 $ 2,400.00 $ 316.69 $ 16,151.32 4 $ 16,151.32 $ 2,400.00 $ 371.03 $ 18,922.34 5 $ 18,922.34 $ 2,400.00 $ 426.45 $ 21,748.79 6 $ 21,748.79 $ 2,400.00 $ 482.98 $ 24,631.77 7 $ 24,631.77 $ 2,400.00 $ 540.64 $ 27,572.40 8 $ 27,572.40 $ 2,400.00 $ 599.45 $ 30,571.85 9 $ 30,571.85 $ 2,400.00 $ 659.44 $ 33,631.29

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