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Find the value of each of these investments at the end of the period specified below. (a) $3500 invested at 4% compounded annually for eight years 5 14²2 % (b) $8000 invested at 6% compounded semiannually for twelve years

Find the value of each of these investments at the end of the period specified below. (a) $3500 invested at 4% compounded annually for eight years 5 14²2 % (b) $8000 invested at 6% compounded semiannually for twelve years

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Find the value of each of these investments at the end of the period specified below. 2 (a) $3500 invested at 4% compounded annually for eight years 5 (b) $8000 invested at 6% compounded semiannually for twelve years (a) The amount in the account after eight years is $ (Round to the nearest cent as needed.). (b) The amount in the account after twelve years is $ (Round to the nearest cent as needed.)
Transcribed Image Text:Find the value of each of these investments at the end of the period specified below. 2 (a) $3500 invested at 4% compounded annually for eight years 5 (b) $8000 invested at 6% compounded semiannually for twelve years (a) The amount in the account after eight years is $ (Round to the nearest cent as needed.). (b) The amount in the account after twelve years is $ (Round to the nearest cent as needed.)
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