Math 115

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__?