Concept explainers
Use the compound interest formulas
53. Find the accumulated value of an investment of $10,000 for 5 years at an interest rate of 5.5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously.
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College Algebra Essentials
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- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage