Transcribed Image Text
?Leslie? Mosallam, who recently sold her? Porsche, placed $8,600in a savings account paying annual compound interest of 5percent.?Calculate the amount of money that will accumulate if Leslieleaves the money in the bank for 2 6 and 16 yearsSuppose Leslie moves her money into an account that pays 7percent or one that pays 9 percent Rework part ?(a?) using 7 and 9percent.What conclusions can you draw about the relationship betweeninterest? rates, time, and future sums from the calculations youjust? did??After placing $8,600 in a savings account paying annualcompound interest of 5 percent?, the amount of money that willaccumulate if Leslie leaves the money in the bank for 2 yearsis
Other questions asked by students
Accounting
Accounting
Accounting