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Calculate the amount of money-leslie? mosallam

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Leslie? Mosallam, who recently sold her? Porsche, placed ?$8,400 in a savings account paying annual compound interest of 6 percent.

Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for 3?, 7?, and 17 ?year(s).

Suppose Leslie moves her money into an account that pays 8 percent or one that pays 10 percent. Rework part ?(a?) using 8 percent and 10 percent.

What conclusions can you draw about the relationship between interest? rates, time, and future sums from the calculations you just? did?

Reference no: EM132689472

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