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Use the compound interest formulas A = P 1+. and A = Pet to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $15,000 for 3 years at an interest rate of 6% 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? $ 17910.78 (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? $ 17934.27 (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? $ 17950.21 (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? $1 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.)

Use the compound interest formulas A = P 1+. and A = Pet to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $15,000 for 3 years at an interest rate of 6% 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? $ 17910.78 (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? $ 17934.27 (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? $ 17950.21 (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? $1 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.)

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
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Use the compound interest formulas A = P 1+. and A = Pet to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $15,000 for 3 years at an interest rate of 6% 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? $ 17910.78 (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? $ 17934.27 (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? $ 17950.21 (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? $1 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
Transcribed Image Text:Use the compound interest formulas A = P 1+. and A = Pet to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $15,000 for 3 years at an interest rate of 6% 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? $ 17910.78 (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? $ 17934.27 (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? $ 17950.21 (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? $1 (Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
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