Solve the application problem. If no interest rate is given, assume
% interest compounded daily. Round to the nearest cent.
Kerry and Andy Zell are retired and after saving their entire life, they have $290,000 in a savings account paying
compounded daily. What is their gain or loss in purchasing
power in a year in which the CPI is 4%?
A. Gain of $2,768.55
B. Loss of $2,768.55
C. Loss of $301,600.00
D. Gain of $301,600.00
Answer: B
You might also like to view...
Solve the problem.Find the missing length in the following right triangle. If necessary, round to the nearest tenth.
A. 12 cm B. 14.5 cm C. 72.5 cm D. 145 cm
Find the area of the figure. Use 3.14 for ?.
A. 3.14 cm2 B. 6.28 cm2 C. 12.56 cm2 D. Not enough data
Solve. 2x2 + 70 = 24x
A. -7, 5 B. 5, 7 C. -7, -5 D. -5, 7
Solve the problem.The intensity of a radio signal from the radio station varies inversely as the square of the distance from the station. Suppose the the intensity is 8000 units at a distance of 2 miles. What will the intensity be at a distance of 13 miles? Round your answer to the nearest unit.
A. 189 units B. 215 units C. 153 units D. 172 units