Asked by Jen
Using the compound intrest formula's A=P(1+r/n)^nt and A=Pe^rt to solve the problem given. Round the answer to the nearest cent. I have to find the accumulated value of and investment of $20,000 for 6 years at an intrest rate of 4.5% compounded semiannually,quarterly,monthly, and contiuously.
Answers
Answered by
Reiny
compounded semi-annually
A = 20 000(1.0225)^12
= 26 121.00
compounded quarterly
... you do it
compounded monthly
.... you do it
compounded continuously
A = 20 000(e^(.045(6))
= 26 199.29
A = 20 000(1.0225)^12
= 26 121.00
compounded quarterly
... you do it
compounded monthly
.... you do it
compounded continuously
A = 20 000(e^(.045(6))
= 26 199.29
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