Find the accumulated value of an investment of $25,000 for 4 years at an interest rate of 5.5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly d. compounded continuously. Round answers to the nearest cent. a. What is the accumulated value if the money is compounded semiannually? (Round your answer to the nearest cent.)

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
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Find the accumulated value of an investment of $25,000 for 4 years at an interest rate of 5.5% if the money is a. compounded semiannually; b. compounded
quarterly; c. compounded monthly d. compounded continuously. Round answers to the nearest cent.
a. What is the accumulated value if the money is compounded semiannually?
(Round your answer to the nearest cent.)
Transcribed Image Text:Find the accumulated value of an investment of $25,000 for 4 years at an interest rate of 5.5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly d. compounded continuously. Round answers to the nearest cent. a. What is the accumulated value if the money is compounded semiannually? (Round your answer to the nearest cent.)
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