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Mathematics, 08.09.2021 04:30, FunnySkittle
Regina deposits $3,500 in a savings account that pays 1.05% interest, compounded semi-annually. Round each answer to the nearest cent.
a. How much interest does the account earn in the first six months?
b. What is the balance at the end of the first six months?
c. How much interest does the account earn in the second six months?
d. What is the balance at the end of the year?
e. How much interest does the account earn the first year?
f. How much interest would $3,500 earn in one year at 1.05% interest, compounded annually?
g. How much more interest does Regina earn at an interest rate of 1.05% compounded semi-annually than compounded annually?
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Answers: 1
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Regina deposits $3,500 in a savings account that pays 1.05% interest, compounded semi-annually. Roun...
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