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Using the Compound Interest Tables, Answer the Following Questions

question 110

Essay

Using the compound interest tables, answer the following questions.
Required:
a. What amount of interest will be earned on an investment of $10,500 left on deposit by
Marcy for three years at 9% interest compounded annually?
b. Travis deposited $10,000 in a fund that earns 8% interest compounded annually. How many years will it take for the fund to grow to $21,589.25?


Definitions:

Reward Power

The ability of an individual to influence the behavior of others by controlling access to desired resources or rewards.

Upward Appeals

The argument that the task has been requested by higher management, or a request to higher management to assist in gaining cooperation.

Coalition Building

The process of forming alliances or coalitions among individuals or groups to achieve a common goal or undertake a specific project.

Rational Appeals

Persuasive strategies that employ logical arguments and evidence to convince an audience of a particular viewpoint or action.

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