If $5500 dollars is invested at an interest rate of 7 percent per year, find the value of the investment at the end of 5 years for the following compounding methods, to the nearest cent. Assume no subsequent deposit or withdrawal. (a) Annual: $ (b) Semiannual: $ (c) Quarterly: $

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A: Given: P = $24000 r = 9% = 0.09 t = 30 years n = 360   Formula used: A=P1+rnnt

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A: The given data is: P=$2000 r=10%t=3 years Given that compounded semi-annually, therefore Interest…

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A: Introduction :

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