Use the compound interest formulas A = P 1+ and A = Pe" to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $25,000 for 4 years at an interest rate of 5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously.
Use the compound interest formulas A = P 1+ and A = Pe" to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $25,000 for 4 years at an interest rate of 5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously.
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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Use the compound interest formulas A = P
1+-
and A = Pe" to solve the problem given. Round answers to the nearest cent.
Find the accumulated value of an investment of $25,000 for 4 years at an interest rate of 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?
$ 30460.07
(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.)
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