1800 dollars is invested at an the end of 5 years for the follo Annual: $ Somianpual:

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
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If 31800 dollars is invested at an interest rate of 9 percent per year, find the value of the investment
at the end of 5 years for the following compounding methods, to the nearest cent.
(a) Annual: $
(b) Semiannual: $
(C) Monthly: $
(d) Daily: $
Transcribed Image Text:If 31800 dollars is invested at an interest rate of 9 percent per year, find the value of the investment at the end of 5 years for the following compounding methods, to the nearest cent. (a) Annual: $ (b) Semiannual: $ (C) Monthly: $ (d) Daily: $
Find the final amount of money in an account if $4, 400 is deposited at 3 % interest compounded
quarterly (every 3 months) and the money is left for 8 years.
The final amount is $
Round answer to 2 decimal places
Transcribed Image Text:Find the final amount of money in an account if $4, 400 is deposited at 3 % interest compounded quarterly (every 3 months) and the money is left for 8 years. The final amount is $ Round answer to 2 decimal places
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