Answer Happy

Information Flag question Question 7 Not complete Marked out of 1.00 Flag question Question 8 Not complete Marked out of 1.00 Flag question Question 9 Not complete Marked out of 1.00 Flag question The compound interest formula for interest paid n times per year on a principal P is y(t) = P(1 + 7) ¹² where t is the number of years and r is the annual interest rate (as a decimal). P: original amount t: number of years invested r: interest rate as a decimal n: number of times per year the interest is paid/compounded. If $6000 is invested at an interest rate of 9% per annum, compounded annually, what will the value of the investment be after 7 years? (Round your answer to the nearest cent). Check If $2000 is invested at an interest rate of 6% per annum, compounded monthly, what will the value of the investment be after 7 1/2 years? (Round your answer to the nearest cent). Check A certificate of deposit is purchased for $5000 and held for 8 years. If the certificate earns 7% per annum, compounded quarterly, what is it worth at the end of the 8 years? (Round your answer to the nearest cent). Check