SOLUTION: Jim Davis invested $14,000 for a period of 2 years at an interest rate of 4.25% compounded annually. Using the simple interest formula and compound interest, calculate the follo

Question 838776: Jim Davis invested $14,000 for a period of 2 years at an interest rate of 4.25% compounded annually.
Using the simple interest formula and compound interest, calculate the following. (Round your responses to the nearest cent if necessary.)
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!

 

Hi

Finding the Accumulated Amount after 2 years

Using compound interest





Using simple interest: A =  

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