Find the accumulated amount after 7 years if $400 is invested at 7% per year, compounded: (Round each answer to the nearest cent.) a. Annually: $ 826.06 b. Semiannually: $ 492.70 c. Quarterly: $ d. Monthly: 2$

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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Find the accumulated amount after 7
years
if $400 is invested at 7% per year,
compounded: (Round each answer to the
nearest cent.)
a. Annually:
2$
826.06
b. Semiannually:
2$
492.70
c. Quarterly:
d. Monthly:
$
%24
Transcribed Image Text:Find the accumulated amount after 7 years if $400 is invested at 7% per year, compounded: (Round each answer to the nearest cent.) a. Annually: 2$ 826.06 b. Semiannually: 2$ 492.70 c. Quarterly: d. Monthly: $ %24
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