Algebra 2 Projects
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algebra 2 ,,, project plzz help beggin?
you have eraned $950 at a summer job, and you want to invest to to get $1,200 for a computer, and want this in 3 years.
you go to the bank and the account representitive discusses some options with you,, and you mention YOU WILL NOT BE WITHDRAWING ANY MONEY UNTILL YOU HAVE THE $1200
so complete the tables for each bank option
1. complete tables for each option, since you cant do the table online then just put the year 1 2 3 and then put the amount for each of the 3 years for A-E
A. a 3 year cd paying 6.5% annually
B. money market account paying 7% annually
C. money market account paying 7% semi annually
D. money market account paying 7% quarterly
E. money market account paying 7% continuosly annually
1 year = 1200 / 3 = $ 400
2 Year = $ 400
3 year = $ 400
A. amount = p x r x t
= (1200) x 6.5% x 3
= $ 234
= 234 x 3 = $ 702
B. amount = p x r x t
= (1200) x 7% x 1
= (1200) x .07 x 1
= $ 84
= 84 x 3 = $ 252
C. amount = p x r x t
= (1200) x 7% x 1/2
= (1200) x .07 x .5
= $ 42
= 42 x 2 x 3 = $ 252
D. amount = p x r x t
= (1200) x 7% x 1/3
= (1200) x .07 x 1/3
= $ 28
= 28 x 1/3 x 3 x 3 = $ 784
E. amount = p x r x t
= [ (1200) x 7% x 1 ] x 3
= $ 252
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