Homework Help: Algebra

Posted by Jen on Sunday, December 12, 2010 at 12:58pm.

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 - Reiny, Sunday, December 12, 2010 at 2:45pm
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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