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Complete the table to determine the effect of the number of compounding periods when computing interest. Suppose that $19,000 is invested at 4% interest
Complete the table to determine the effect of the number of compounding periods when computing interest. Suppose that $19,000 is invested at 4% interest for 8 yr under the following compounding options. Round answers in the second column to the nearest whole number. Round answers in the last column to the nearest cent. Compounding Option n Value Result (a) Annually n = 1 $ 26,002 (b) Quarterly (c) Monthly (d) Daily n = 4 $ 25,651 n = 12 $ 25,632 n 365 $ 25,604 (e) Continuously Not Applicable $ 26,163
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