Use a spreadsheet or financial program on a calculator or computer. Track the future values of two investments of $5000, one at 6.4% compounded quarterly and another at 6.4% compounded monthly for each interest payment period for 10 years. (a) How long does it take each investment to be worth more than $7500? (Round your answers to one decimal place.) 6.4% compounded quarterly yr 6.4% compounded monthly yr (b) What are the values of each investment after 3 years? (Round your answers to the nearest cent.) 6.4% compounded quarterly $ 6.4% compounded monthly $ What are the values of each investment after 7 years? (Round your answers to the nearest cent.) 6.4% compounded quarterly $ 6.4% compounded monthly $ What are the values of each investment after 10 years? (Round your answers to the nearest cent.) 6.4% compounded quarterly $ 6.4% compounded monthly $
Use a spreadsheet or financial program on a calculator or computer. Track the future values of two investments of $5000, one at 6.4% compounded quarterly and another at 6.4% compounded monthly for each interest payment period for 10 years. (a) How long does it take each investment to be worth more than $7500? (Round your answers to one decimal place.) 6.4% compounded quarterly yr 6.4% compounded monthly yr (b) What are the values of each investment after 3 years? (Round your answers to the nearest cent.) 6.4% compounded quarterly $ 6.4% compounded monthly $ What are the values of each investment after 7 years? (Round your answers to the nearest cent.) 6.4% compounded quarterly $ 6.4% compounded monthly $ What are the values of each investment after 10 years? (Round your answers to the nearest cent.) 6.4% compounded quarterly $ 6.4% compounded monthly $
Use a spreadsheet or financial program on a calculator or computer.
Track the future values of two investments of $5000, one at 6.4% compounded quarterly and another at 6.4% compounded monthly for each interest payment period for 10 years.
(a) How long does it take each investment to be worth more than $7500? (Round your answers to one decimal place.)
6.4% compounded quarterly
yr
6.4% compounded monthly
yr
(b) What are the values of each investment after 3 years? (Round your answers to the nearest cent.)
6.4% compounded quarterly
$
6.4% compounded monthly
$
What are the values of each investment after 7 years? (Round your answers to the nearest cent.)
6.4% compounded quarterly
$
6.4% compounded monthly
$
What are the values of each investment after 10 years? (Round your answers to the nearest cent.)
6.4% compounded quarterly
$
6.4% compounded monthly
$
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