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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
النسخة 12الرقم المعياري الدولي: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
النسخة 12الرقم المعياري الدولي: 978-0132605540 تمرين 39
Solve the following application problems. If no interest rate is given, assume
interest compounded daily. Round to the nearest cent.
RETIREMENT INCOME The Walters accumulated $235,000 during more than 40 years of work. They originally deposited this money in a 5-year time deposit earning 6 and used the income for living expenses. On renewing the time deposit, they found that interest rates on a 5-year time deposit had fallen and that they were going to receive only 4. Find the difference in their annual income due to the decline in interest rates. ( Hint: Don't use the compound interest table.)
interest compounded daily. Round to the nearest cent. RETIREMENT INCOME The Walters accumulated $235,000 during more than 40 years of work. They originally deposited this money in a 5-year time deposit earning 6 and used the income for living expenses. On renewing the time deposit, they found that interest rates on a 5-year time deposit had fallen and that they were going to receive only 4. Find the difference in their annual income due to the decline in interest rates. ( Hint: Don't use the compound interest table.)
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It is given that the rate in the first 5...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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