Concept explainers
a.
To solve.
a.
Answer to Problem 3P
$1125
Explanation of Solution
Given information:
one thousand dollars is invested at 12% interest compounded quaterly. We have to determine worth after 1 year.
We shall use the formula for compound interest.
Where A is the amount and P is principal and ris rate compounded n times.
Worth after 1 year is,
b.
To solve.
b.
Answer to Problem 3P
$1266
Explanation of Solution
Given information:
one thousand dollars is invested at 12% interest compounded quaterly. We have to determine worth after 2 year.
We shall use the formula for compound interest.
Where A is the amount and P is principal and ris rate compounded n times.
Worth after 2 year is,
c.
To solve.
c.
Answer to Problem 3P
$1425
Explanation of Solution
Given information:
one thousand dollars is invested at 12% interest compounded quaterly. We have to determine worth after 3 year.
We shall use the formula for compound interest.
Where A is the amount and P is principal and ris rate compounded n times.
Worth after 3 year is,
d.
To solve.
d.
Answer to Problem 3P
$3262
Explanation of Solution
Given information:
one thousand dollars is invested at 12% interest compounded quaterly. We have to determine worth after 10 year.
We shall use the formula for compound interest.
Where A is the amount and P is principal and ris rate compounded n times.
Worth after 10 year is,
Chapter 10 Solutions
Algebra and Trigonometry: Structure and Method, Book 2
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