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# Calculating compound interest

Heather received \$100 for her 13th birthday. If she saves it in a bank with 3% interest compounded quarterly, how much money will she have in the bank by her 16th birthday?...

# Suppose you deposit \$3,000 for 6 years at a rate of 7%. I don't understand this question.

A=P(1+ r/n)nt        All work needs to be shown on how answer was calculated a) Calculate the return (A) if the bank compounds semi-annually. Round your answer to the nearest cent. b) Calculate...

# Is the compound interest formula—such as would be used to calculate a car loan

Is the compound interest formula—such as would be used to calculate a car loan—an example of a function? If yes, of what type of function is it an example of? Why might you identify it with...

# How do you compute compounded interest, when it changes half way through?

You deposit \$4000 in an account that pays 8% interest compounded semiannually. After 4 years, the interest rate is increased to 8.24% compounded quarterly. What will be the value of the account after...

# I have a quastion please.

Find the value of annuity of a =\$8000, I = 0.010, n =25