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Use the compound interest formulas A=P(1+frac{r}{n})^n^t and A=P e^rt to solve the problem given. Round answers to the nearest cent.Find the accumulated value of an
Use the compound interest formulas
A=P(1+\frac{r}{n})^n^t
and
A=P e^rt
to solve the problem given. Round answers to the nearest cent.Find the accumulated value of an investment of
$15,000
for
4
years at an interest rate of
5%
if the money is a. compounded semiannually;
b.
compounded quarterly;
c.
compounded monthly; d. compounded continuously.
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