Answer
Compound Amount: 1216.70
Interest: 216.70
Work Step by Step
Compound interest table for 4%, 5 years is 1.2167
$1000\times1.2167 = 1216.70$ (compound amount)
$1216.70 - 1000 = 216.70$ (interest)
Basic College Mathematics (9th Edition)
by Lial, Margaret L.; Salzman, Stanley A.; Hestwood, Diana L.
Published by
Pearson
ISBN 10:
0321825535
ISBN 13:
978-0-32182-553-7
Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 456: 23
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