Find the accumulated value of an investment of $20,000 for 6 years at an interest rate of 1.65% if the money is a. compounded semiannually? b.compounded quarterly? c.compounded monthly? d. What is the accumulated value if the money is compounded continuously?
Find the accumulated value of an investment of $20,000 for 6 years at an interest rate of 1.65% if the money is a. compounded semiannually? b.compounded quarterly? c.compounded monthly? d. What is the accumulated value if the money is compounded continuously?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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Question
Find the accumulated value of an investment of $20,000 for 6 years at an interest rate of 1.65% if the money is
a. compounded semiannually?
b.compounded quarterly?
c.compounded monthly?
d. What is the accumulated value if the money is compounded continuously?
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