Asked by Kim
Calculate the future value of the following:
o $5,000 compounded annually at 6% for 5 years
o $5,000 compounded semiannually at 6% for 5 years
o $5,000 compounded quarterly at 6% for 5 years
o $5,000 compounded annually at 6% for 6 years
• Answer the following: What conclusions can be drawn about the frequency of compounding interest? What conclusions can be drawn about the length of time an amount is compounding?
•
Please help, as I'm at a loss here.
Thanks for your help
o $5,000 compounded annually at 6% for 5 years
o $5,000 compounded semiannually at 6% for 5 years
o $5,000 compounded quarterly at 6% for 5 years
o $5,000 compounded annually at 6% for 6 years
• Answer the following: What conclusions can be drawn about the frequency of compounding interest? What conclusions can be drawn about the length of time an amount is compounding?
•
Please help, as I'm at a loss here.
Thanks for your help
Answers
Answered by
drwls
The first answer is 5000*(1.06)^5
The second answer is 5000(1.03)^10
The third answer is 5000*(1.015)^20
The fourth answer is 5000*(1.06)^6
Do the numbers and draw your own conclusions.
The second answer is 5000(1.03)^10
The third answer is 5000*(1.015)^20
The fourth answer is 5000*(1.06)^6
Do the numbers and draw your own conclusions.
Answered by
Virginia
$5,000 compounded semiannually at 6% for 5 years
Answered by
Anonymous
Compute the amount that a $15,000 investment today would accumulate at 9% (compound interest) by the en of 6 years.
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