An investment of $13,335 earns 12% interest compounded monthly for 3 years. (a) What is the future value of the investment? (b) If money can be deposited at 10% compounded quarterly, find the present value of the investment. (a) $18,890.40 (b) $7840.73 O (a) $15,026.21 (b) $7103.31 O (a) $20,079.32 (b) $8840.73 (a) $19,079.32 (b) $14,186.62
An investment of $13,335 earns 12% interest compounded monthly for 3 years. (a) What is the future value of the investment? (b) If money can be deposited at 10% compounded quarterly, find the present value of the investment. (a) $18,890.40 (b) $7840.73 O (a) $15,026.21 (b) $7103.31 O (a) $20,079.32 (b) $8840.73 (a) $19,079.32 (b) $14,186.62
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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Transcribed Image Text:An investment of $13,335 earns 12% interest compounded monthly for 3 years. (a) What is
the future value of the investment? (b) If money can be deposited at 10% compounded
quarterly, find the present value of the investment.
(a) $18,890.40
(b) $7840.73
O (a) $15,026.21
(b) $7103.31
O (a) $20,079.32
(b) $8840.73
O(a) $19,079.32
(b) $14,186.62
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