8.4 In Exercises 37-39, the principal represents an amount of more deposited in a savings...
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Accounting
8.4 In Exercises 37-39, the principal represents an amount of more deposited in a savings account that provides the lender compound interest at the given rate. a. Find how much money, to the nearest cent, there will be the account after the given number of years. b. Find the interest earned. Compounding Rate Principal Periods per Year 3% 1 37. $7000 2.5% 4 38. $30,000 4% 12 39. $2500 Time 5 years 10 years 20 years For Problems 1 - 4, Consider the following list of entries: 0, 3, 6, 9, 12, 15
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