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Use the compound interest formulas A=P(1+nr) and A=Pett to solve the problem given. Round answers to the nearest cent.
Posted: Thu Jul 14, 2022 3:49 pm
by answerhappygod
- Use The Compound Interest Formulas A P 1 Nr And A Pett To Solve The Problem Given Round Answers To The Nearest Cent 1 (37.52 KiB) Viewed 37 times
Use the compound interest formulas A=P(1+nr) and A=Pett to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an imvestment of $15,000 for 5 years at an interest rate of 4.5% if the money is a. compounded semiannually, b. cornpounded quarterly; c. compounded monthly; d. compounded continuously. a. What is the accumulated value if the money is compounded semiannually? 5 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) b. What is the accumulated value if the money is compounded quarterfy? 3 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) c. What is the accumulated value if the money is compounded monthly? 4 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) d. What is the accumulated value if the money is compounded continuously? 1 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.)