Answered: (3) At what rate will $65.07 yield…

(3) At what rate will $65.07 yield $8.75 in simple interest in 3 years 6 months? Ans. 3.84% (4) Find the compound amount of $100 for 4 years at 6 percent compounded annually. Ans. $126.25

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

(3) At what rate wil $65.07 yield $8.75 in simple
interest in 3 years 6 months?
Ans. 3.84%
(4) Find the compound amount of $100 for 4 years at
6 percent compounded annually.
Ans. $126.25

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