MATH 105 Quiz: MATH 105 KU 105 Quiz 9 ans
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In problem [i] below we work on a model where one can divide any dollar amount by any large number (cid:0)integer(cid:1). So, one-third of a dollar is never the same as 33 cents (cid:0)because 33 cents is one-third of 99 cents(cid:1). You open a bank account, deposit a dollar in that account. (1) your bank o ers 100 percent interest annually. Suppose your bank o ers a compound interest with 100 percent rate annually. 50 percent of your balance will be accrued as an interest. Suppose the compounding takes place 12 times annually. Th of a year(cid:17), (cid:16) = accrued as an interest. 12 times 100 percent of your balance will be. Suppose the compounding takes place 1020 times annually. 1020 -th times 100 percent of your balance will be accrued as an interest. (5) of a year, Is your answer in (5) more than or less than ? h answer i:
