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d. Monthly e. Continuously

d. Monthly e. Continuously

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Answer parts d and e
Find the interest earned on $10,000 invested for 4 years at 6% interest compounded as follows. a. Annually b. Semiannually (twice a year) c. Quarterly d. Monthly e. Continuously a. Compounding annually, the interest earned is $ 2624.77 (Round to the nearest cent as needed.) b. Compounding semiannually, the interest earmed is $ 2667 70 (Round to the nearest cent as needed.) c. Compounding quarterly, the interest eamed is $ 2689 86 (Round to the nearest cent as needed) d. Compounding monthly, the interest eaned is $. (Round to the nearest cent as needed)
Transcribed Image Text:Find the interest earned on $10,000 invested for 4 years at 6% interest compounded as follows. a. Annually b. Semiannually (twice a year) c. Quarterly d. Monthly e. Continuously a. Compounding annually, the interest earned is $ 2624.77 (Round to the nearest cent as needed.) b. Compounding semiannually, the interest earmed is $ 2667 70 (Round to the nearest cent as needed.) c. Compounding quarterly, the interest eamed is $ 2689 86 (Round to the nearest cent as needed) d. Compounding monthly, the interest eaned is $. (Round to the nearest cent as needed)
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