Basic College Mathematics (10th Edition)

Published by Pearson
ISBN 10:
ISBN 13:

Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 454: 27

Answer

Compound Amount: 10976.01 Interest: 2547.84

Work Step by Step

Compound interest table for 4.5%, 6 years is 1.3023 $8428.17\times1.3023 = 10976.01$ (compound amount) $10976.01 - 8428.17 = 2547.84$ (interest)
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