Ask a New Question

Annual deposits of $3150 are made into a bank account earning 4 % interest per year.

(a) What is the balance in the account right after the 15th deposit if interest is calculated annually?

(b) What is the balance in the account right after the 15th deposit if interest is calculated continuously?

Ask a New Question or answer this question.

Similar Questions

Annual deposits of $3150 are made into a bank account earning 4 % interest per year. Round all answers to two decimal places(a)
1. 3 answers
A bank account earning annual compound interest was opened, and no additional deposits or withdrawals were made after the
1. 1 answer
A bank account earning annual compound interest was opened, and no additional deposits or withdrawals were made after the
1. 5 answers
A bank account earning annual compound interest was opened, and no additional deposits or withdrawals were made after the
1. 1 answer

more similar questions