Question
Use the compound interestformulas, A=P (1+r/n) nt and A=Pe rt , to solve the following problem. Find the accumulated value of an investment of $10,000
Use the compound interestformulas, A=P (1+r/n)nt and A=Pert, to solve the following problem.
Find the accumulated value of an investment of $10,000 for 6 years at an interest rate of 6.5% if the money is a. compoundedsemiannually; b. compoundedmonthly; c. compounded continuously.
What is the accumulatedvalue, if the money is compoundedsemiannually?
$
(Round your answer to the nearestcent.)
b. What is the accumulatedvalue, if the money is compoundedmonthly?
$
(Round your answer to the nearestcent.)
c. What is the accumulatedvalue, if the money is compoundedcontinuously?
$
(Round your answer to the nearestcent.)
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