Basic College Mathematics (10th Edition)

Published by Pearson
ISBN 10:
ISBN 13:

Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 454: 26

Answer

Compound Amount: 11524.50 Interest: 3724.50

Work Step by Step

Compound interest table for 5%, 8 years is 1.4775 $7800\times1.4775 = 11524.50$ (compound amount) $11524.50 - 7800 = 3724.50$ (interest)
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