posted by April .
If a community clinic invested $3,000 in excess cash today, what would be the value of its investment at the end of three years:
a. at a 12 percent rate compounded semiannually?
B. at a 12 percent rate compounded quarterly?
a) amount = 3000( 1.06)^6 = ...
can you see what I did with the rate and with the time ?
b) let me know what you think about this one
still lose or 30,000(( 1.06)^12=
12% compounded quarterly
means --- the rate is 3% per quarter
and in 3 years there would be 12 quarters,
amount = 3000(1 + .03)^12
= 3000(1.03)^12 = 4277.28
so how am i suppose to find the semiannually at 12