A deposit of $1500 is made into a fund on March 18. The fund earns simple interest at 5%. On August 5, the interest rate changes to 4.5%. How much is in the fund on October 23? Answer: $Blank 1 Note: Round in two decimal places. Blank 1 Add your answer

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section6.1: Why Save?
Problem 6R
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A deposit of $1500 is made into a fund on March 18. The fund
earns simple interest at 5%. On August 5, the interest rate
changes to 4.5%. How much is in the fund on October 23?
Answer: $Blank 1
Note: Round in two decimal places.
Blank 1 Add your answer
Transcribed Image Text:A deposit of $1500 is made into a fund on March 18. The fund earns simple interest at 5%. On August 5, the interest rate changes to 4.5%. How much is in the fund on October 23? Answer: $Blank 1 Note: Round in two decimal places. Blank 1 Add your answer
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