I will do the second, then you follow the same method to do the other two
2.
A = 1500(1 + .07/4)^(5*4)
= 1500(1.0175^20
= 2122.17
in the first and third assume that k = 1, that is keep the rate at .07 and .054
A is accumulated amount investing after p principal for t years at and interest rate of r compounded anually k is times per year.
P=$1500, r= 7%, t=6
P=1500, r=7%,t=5,k=4
P=$1250, r=5.4%,t=6
1 answer
2 answers