question archive Leslie? Mosallam, who recently sold her? Porsche, placed ?$8,200 in a savings account paying annual compound interest of 5 percent
Leslie? Mosallam, who recently sold her? Porsche, placed ?$8,200 in a savings account paying annual compound interest of 5 percent
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Leslie? Mosallam, who recently sold her? Porsche, placed ?$8,200 in a savings account paying annual compound interest of 5 percent.
a. Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for 3?, 7?, and 17 ?year(s).
b. Suppose Leslie moves her money into an account that pays 7 percent or one that pays 9 percent. Rework part ?(a?) using 7 percent and 9 percent.
c. What conclusions can you draw about the relationship between interest? rates, time, and future sums from the calculations you just? did?
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