Answer to Question #149626 in Other for Gugu

Question

Business Applications.in the future value (compound amount) or the compound
interest. as indicated. Round answers to the nearest cent. Use a calculator or Table 16-1
To help his daughter and son-in-law purchase their first new car, David Lo loans them $12,000. They
agree on an interest rate ot 36 compounded annually, and Mr.lo tells them that they can pay it all back,
the 12,000 plus the interest, in years. How much interest will Mr. Lo receive from them?


Sandee Millet owns and operates an art supply store in a suburban shopping center. Sandee learns about
an investment that claims to pay a return ot 8% compounded semannually tor 4 years. sandee decides to
Invest 4750. Compute the amount or interest that she will earn in the + years.

Answer 1

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