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Ivenika [448]
3 years ago
10

2. A bank representative studies compound interest, so she can better serve

Mathematics
1 answer:
Kaylis [27]3 years ago
4 0

Answer:

Step-by-step explanation:

Given that a  bank representative studies compound interest, so she can better serve  customers. She analyzes what happens when $2,000 earns interest several  different ways at a rate of 2% for 3 years.

a) the interest if it is computed using simple interest. 12.00

=\frac{2000(3)(12)}{100} \\=720 dollars

b) the interest if it is compounded annually.

=2000(1.12)^3-2000\\= 809.86 dollars

c) the interest if it is compounded semiannually

=2000(1.06)^6 -2000\\= 837.04

d) the interest if it is compounded quarterly.

=2000(1.03)^12 -2000\\= 851.52

e) the interest if it is compounded monthly.

=2000(1.01)^24 -2000\\= 861.54

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