Using the Compound Interest Tables, Answer the Following Questions Required $\$ 10,500$

question 12

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 $\$ 21,589.25 ?$

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Definitions:

Supply Shift

A change in the supply curve of goods or services caused by factors other than price changes, leading to a new equilibrium in the market.

Good Z

A hypothetical product or service used in economic examples to discuss theories and concepts.

Cornstalks

The stems of corn plants, which can be used as fodder for animals, in biofuel production, or as a raw material in various industries.

Complements In Production

Goods that are produced together in the same process or that increase productivity when used together.