Asked by Nikki
If $37,500 is invested at 6.3% for 30 years, find the future value if the interest is compounded annually,semiannually, quarterly, monthly
Answers
Answered by
vince
37500(1+(.063/x))^30x
where x is the number of times it is compounded per year (1 for annually, 2 for semiannually, 4 for quarterly, 12 for monthly)
where x is the number of times it is compounded per year (1 for annually, 2 for semiannually, 4 for quarterly, 12 for monthly)
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