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:You deposit $100 in an account earning 7% coumpound interest for 2 years. Find the future value and the
interest earned for each of the following compounding frequencies.
Frequency
Future Value
Interest Earned
Semiannually:
114.7523
14.7523
Quarterly:
114.888
14.888
Monthly:
114.980
14.980
Daily:
115.0258
15.0258
Continuosly:
405.5199
305.5199
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