Question
Find the future value of an investment of $2,500 made today for the following dates and periods: A.6.25 percent compounded semiannually for 12 years B.7.63
Find the future value of an investment of $2,500 made today for the following dates and periods:
A.6.25 percent compounded semiannually for 12 years
B.7.63 percent compounded quarterly for 6 years
C.8.9 percent compounded monthly for 10 years
D.10 percent compounded daily for 3 years
E.8 percent compounded continuously for 2 year
Step by Step Solution
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Step: 1
A Since the investment is compounded sem iann ually we can use the following formula F V PV 1 r n nt Where F V Future Value P V Present Value the init...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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College Algebra
Authors: Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
12th edition
134697022, 9780134313795 , 978-0134697024
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