Quiz 10 Name: Key
You must SHOW ALL WORK to receive credit
Round all answers (if necessary) to the nearest cent
1. A jacket, which normally sells for $119, is put on sale for 30% off. What is the sale price?
A bank advertises that they are offering an 5 year certificate of deposit (CD) which pays 3% APR. If you open a CD with an initial deposit of $2000, what will the final balance be if…
2. the interest is compounded annually?
3. the interest is compounded monthly?
4. the interest is compounded continuously?