nt Use the compound interest formulas A =P 1+ and A =Pet to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $20,000 for 7 years at an interest rate of 4.5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously. a. What is the accumulated value if the money is compounded semiannually? (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) b.What is the accumulated value if the money is compounded quarterly? (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) c. What is the accumulated value if the money is compounded monthly? (Round your answer to the nearest cent. Do not include the $ symbol in your answer.)

nt Use the compound interest formulas A =P 1+ and A =Pet to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $20,000 for 7 years at an interest rate of 4.5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously. a. What is the accumulated value if the money is compounded semiannually? (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) b.What is the accumulated value if the money is compounded quarterly? (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) c. What is the accumulated value if the money is compounded monthly? (Round your answer to the nearest cent. Do not include the $ symbol in your answer.)

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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Question

nt
Use the compound interest formulas A = P
and A = Pert to solve the problem given. Round answers to the nearest cent.
Find the accumulated value of an investment of $20,000 for 7 years at an interest rate of 4.5% if the money is a. compounded semiannually; b. compounded
quarterly; c. compounded monthly; d. compounded continuously.
a. What is the accumulated value if the money is compounded semiannually?
(Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
b.What is the accumulated value if the money is compounded quarterly?
(Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
c. What is the accumulated value if the money is compounded monthly?
(Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
d. What is the accumulated value if the money is compounded continuously?
(Round your answer to the nearest cent. Do not include the $ symbol in your answer.)

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