Mathematics, 01.12.2021 15:30 24jameb
Mia deposits 4000 Australian dollars (AUD) into a bank account. The bank pays a nominal
annual interest rate of 6%, compounded semi-annually
(a) Find the amount of interest that Mia will earn over the next 2.5 years.
Ella also deposits AUD into a bank account. Her bank pays a nominal annual interest rate
of 4%, compounded monthly. In 2.5 years, the total amount in Ella's account will be
1000 AUD
(b) Find the amount that Ella deposits in the bank account.
Answers: 3
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Mia deposits 4000 Australian dollars (AUD) into a bank account. The bank pays a nominal
annual int...
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