Find the future value and interest earned if $8706.54 is invested for 9 years at 5% compounded (a) semiannually and (b) continuously. ..... (a) The future value when interest is compounded semiannually is approximately $| (Type an integer or decimal rounded to the nearest hundredth as needed.) The interest earned is approximately $ (Type an integer or decimal rounded to the nearest hundredth as needed.) (b) The future value when interest is compounded continuously is approximately S (Type an integer or decimal rounded to the nearest hundredth as needed.) The interest earned is approximately $ (Type an integer or decimal rounded to the nearest hundredth as needed.)
Find the future value and interest earned if $8706.54 is invested for 9 years at 5% compounded (a) semiannually and (b) continuously. ..... (a) The future value when interest is compounded semiannually is approximately $| (Type an integer or decimal rounded to the nearest hundredth as needed.) The interest earned is approximately $ (Type an integer or decimal rounded to the nearest hundredth as needed.) (b) The future value when interest is compounded continuously is approximately S (Type an integer or decimal rounded to the nearest hundredth as needed.) The interest earned is approximately $ (Type an integer or decimal rounded to the nearest hundredth as needed.)
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Transcribed Image Text:Find the future value and interest earned if $8706.54 is invested for 9 years at 5% compounded (a) semiannually and (b) continuously.
....
(a) The future value when interest is compounded semiannually is approximately $
(Type an integer or decimal rounded to the nearest hundredth as needed.)
The interest earned is approximately $
(Type an integer or decimal rounded to the nearest hundredth as needed.)
(b) The future value when interest is compounded continuously is approximately S
(Type an integer or decimal rounded to the nearest hundredth as needed.)
The interest earned is approximately $
(Type an integer or decimal rounded to the nearest hundredth as needed.)
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