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 $15,000 for 4 years at an interest rate of 6% if the money is a. compounded semiannually; b. compou 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.)

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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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 $15,000 for 4 years at an interest rate of 6% if the money is a. compounded semiannually; b. compou
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.)
Transcribed Image Text: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 $15,000 for 4 years at an interest rate of 6% if the money is a. compounded semiannually; b. compou 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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