MATH 105 Quiz: MATH 105 KU 105 Quiz 9 sg 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. 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 ? (cid:3) it is more than . (cid:3) it is less than . (cid:16) check one. (cid:17) (7)
