nt Use the compound interest formulas A = P 1+ and A = Pert to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $15,000 for 7 years at an interest rate of 4.5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously. a. What is the accumulated value if the money is compounded semiannually? $4 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) b.What is the accumulated value if the money is compounded quarterly? $ (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) c. What is the accumulated value if the money is compounded monthly? $ (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) d. What is the accumulated value if the money is compounded continuously? $4 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
nt Use the compound interest formulas A = P 1+ and A = Pert to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $15,000 for 7 years at an interest rate of 4.5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously. a. What is the accumulated value if the money is compounded semiannually? $4 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) b.What is the accumulated value if the money is compounded quarterly? $ (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) c. What is the accumulated value if the money is compounded monthly? $ (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) d. What is the accumulated value if the money is compounded continuously? $4 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 66SE: Kyoko has 10,000 that she wants to invest. Her bankhas several investment accounts tochoose from,...
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Transcribed Image Text:nt
Use the compound interest formulas A = P 1+-
in
and A = Pert to solve the problem given. Round answers to the nearest cent.
Find the accumulated value of an investment of $15,000 for 7 years at an interest rate of 4.5% if the money is a. compounded
semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously.
a. What is the accumulated value if the money is compounded semiannually?
$
(Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
b.What is the accumulated value if the money is compounded quarterly?
2$
(Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
c. What is the accumulated value if the money is compounded monthly?
$
(Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
d. What is the accumulated value if the money is compounded continuously?
$
(Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
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