plans to leave it for 10 years. (Round your final answers to two decimal places.) (a) Find the value after 10 years if the interest paid is simple interest.$ (b) Find the value after 10 years if the interest paid is compounded

plans to leave it for 10 years. (Round your final answers to two decimal places.) (a) Find the value after 10 years if the interest paid is simple interest.$ (b) Find the value after 10 years if the interest paid is compounded

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

ChapterP: Prerequisites

Section: Chapter Questions

Problem 132E

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Question

Jody invests $2000 at 4.5% interest and plans to leave it for 10 years. (Round your final answers to two decimal places.)

(a) Find the value after 10 years if the interest paid is simple interest.$

(b) Find the value after 10 years if the interest paid is compounded quarterly.$

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