Find the interest eaned on $10,000 invested for 4 years at 6% interest compounded as follows. a. Annually b. Semiannually (twice a year) c. Quarterly

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 22PROB
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Find the interest eamed on $10,000 invested for 4 years at 6% interest compounded as follows.
a. Annually
b. Semiannually (twice a year)
c. Quarterly
d. Monthly
e. Continuously
a. Compounding annually, the interest earned is S
(Round to the nearest cent as needed)
Transcribed Image Text:Find the interest eamed on $10,000 invested for 4 years at 6% interest compounded as follows. a. Annually b. Semiannually (twice a year) c. Quarterly d. Monthly e. Continuously a. Compounding annually, the interest earned is S (Round to the nearest cent as needed)
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