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| Compound Interest word problems. |
henriyaz |
12/06/06 |
hello..can u pls help me how to work out step by step, pls! my fav expert:-) &many txs in advance
Compound Interest word problems.
1)Mrs. Graham desposited some money in a savings account at a rate of interest of 6%.
After one year, the amount she had in the bank was $8,480.What was the capital she deposited in the bank?
(hint at this rate, what does a dollar become at the end of one year?By what should the amount be divided to obtain the capital?)
2)How much money will Heather have in the bank if she deposited$4,000 for two years at a rate of interest of 5%? |
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