Question
Find the future value of an investment of $3,800 made today for the following rates and periods: (If you solve this problem with algebra round
Find the future value of an investment of $3,800 made today for the following rates and periods: (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your answers to the nearest penny.)
a. 6.25 percent compounded semiannually for 12 years.
Future value $
b. 7.63 percent compounded quarterly for 6 years.
Future value $
c. 8.9 percent compounded monthly for 10 years.
Future value $
d. 10 percent compounded daily for 3 years.
Future value $
e. 8 percent compounded continuously for 2 years.
Future value $
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