(a) Martha invests an amount of $10000 at 3.5% compounded quarterly. What is the value of her investment after 3 years? (b) If she had invested the amount at 3.5% componded monthly, what would have been the worth of her investment after 3 years?

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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Needed to be solved both parts correctly in 10 minutes and get the thumbs up please show neat and clean work Please do in 10 minutes only
(a) Martha invests an amount of $10000 at 3.5% compounded quarterly. What is the value of her
investment after 3 years?
(b) If she had invested the amount at 3.5% componded monthly, what would have been the worth
of her investment after 3 years?
Transcribed Image Text:(a) Martha invests an amount of $10000 at 3.5% compounded quarterly. What is the value of her investment after 3 years? (b) If she had invested the amount at 3.5% componded monthly, what would have been the worth of her investment after 3 years?
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