If $15,000 is invested at 3.5% for 20 years, find the future value if the interest is compounded the following ways. (Round your answers to the nearest cent.) (d) monthly $ (e) daily (N = 360) $ (f) every minute (N = 525,600) $ (g) continuously $ (h) simple (not compounded) $
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(d) monthly
$
(e) daily (N = 360)
$
(f) every minute (N = 525,600)
$
(g) continuously
$
(h) simple (not compounded)
$
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- You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.If $18,000 is invested at 2.5% for 20 years, find the future value if the interest is compounded the following ways. (Round your answers to the nearest cent.) (d) monthly $ _________(e) daily (N = 360) $ _______________(f) every minute (N = 525,600) $_________________If $32,500 is invested at 6.6% for 30 years, find the future value if the interest is compounded the following ways. (Round your answers to the nearest cent.) (a) annually $ (b) semiannually $ (c) quarterly $ (d) monthly $ (e) daily (N = 360) $ (f) every minute (N = 525,600) $ (g) continuously $ (h) simple (not compounded) $
- Find the accumulated value of an investment of $10,000 for 5 years at an interest rate of 4.5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly d. compounded continuously. Round answers to the nearest cent. a. What is the accumulated value if the money is compounded semiannually? $4 (Round your answer to the nearest cent.)Find the future value if $7000 is invested for 6 years at 11% compounded annually. (Round your answer to the nearest cent.) $ Need Help? DETAILS MY NOTES What is the future value if $8200 is invested for 15 years at 10% compounded semiannually? (Round your answer to the nearest cent.) Need Help? Read It ASK WFind the accumulated value of an investment of $15,000 for 5 years at an interest rate of 1.45% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly d. compounded continuously. i Click the icon to view some finance formulas. a. What is the accumulated value if the money is compounded semiannually? (Round to the nearest cent as needed.) b. What is the accumulated value if the money is compounded quarterly? (Round to the nearest cent as needed.) C. What is the accumulated value if the money is compounded monthly? S (Round to the nearest cent as needed.) d. What is the accumulated value if the money is compounded continuously? S (Round to the nearest cent as needed.)
- Use the formula A = Pert to find the future value after 20 years of a $7,000 account that earns 8% interest compounded continuously, then compare that to the future value of the same account if interest is compounded annually. Round to the nearest cent. The future value of the account with interest compounded continuously is The future value of the account with interest compounded annually is The account earns $____ (what dollar amount) [more/less] when interest is compounded continuously %24Find the present value of the given future amount. $31,000 for 9 months at 8% simple interest What is the present value? $ (Round to the nearest dollar as needed.)Find the present value of the given future amount. $183,714 for 321 days at 5.6% simple interest. Assume 360 days in a year. What is the present value? (Round to the nearest dollar as needed.)
- How much interest will be earned if $5,000.00 is invested for 3 years at 10% compounded semi-annual? HINT: You know how to find the future value of the investment at the end of the time period. To find the amount of interest earned, just subtract the PRINCIPAL from the future value.You would earn $ in interest. (Round to 2 decimal places.)Consider the following investment. (Round your answers to the nearest cent.) $5,200 at 7 3 4 % compounded quarterly for 8 1 2 years (a) Find the future value of the given amount.$ (b) Interpret the future value of the given amount. After 8 1 2 years, the investment is worth $ .Suppose that $30,000 is invested at 9% interest. Find the amount of money in the account after 7 years if the interest is compounded annually. If interest is compounded annually, what is the amount of money after t = 7 years? $ (Do not round until the final answer. Then round to the nearest cent as needed.)