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15. The value A of an initial investment of A0 dollars earning an annual interest rate r, compounded n times per year for t years
15. The value A of an initial investment of A0 dollars earning an annual interest rate r, compounded n times per year for t years can be modeled by the formula: A(t)=A0(1+nr)nt (a.) If you invest $14,500 in an account paying an annual interest rate of 6.5%. Find the value of the investment after 6 years If compounded daily and if compounded weekly? (3 points) (b.) If you accumulated a total amount of $35,000 after 6 years in an account paying an annual interest rate of 7% compounded quarterly. How much did you initially invest? (3 points )
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