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Algebra

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Using the compound intrest formula's A=P(1+r/n)^nt and A=Pe^rt to solve the problem given. Round the answer to the nearest cent. I have to find the accumulated value of and investment of $20,000 for 6 years at an intrest rate of 4.5% compounded semiannually,quarterly,monthly, and contiuously.

  • Algebra - ,

    compounded semi-annually
    A = 20 000(1.0225)^12
    = 26 121.00

    compounded quarterly
    ... you do it

    compounded monthly
    .... you do it

    compounded continuously
    A = 20 000(e^(.045(6))
    = 26 199.29

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