Question
nt
Use the compound interest formulas A
P1 +_
and A Pe" to solve the problem given. Round answers to the nearest cent.
Find the accumulated value of an investment of $15,000 for 4 years at an interest rate of 7% 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?
S(Round your answer to the nearest cent.)
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Transcribed Image Text:nt Use the compound interest formulas A P1 +_ and A Pe" to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $15,000 for 4 years at an interest rate of 7% 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? S(Round your answer to the nearest cent.)
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