jose4196 jose4196

31-10-2019
Mathematics

contestada

1.
A sum of $3000 is invested at an interest rate
of 9% per year. Find the amount in the
account after 15 years if interest is
compounded:
(a) annually
(b) semiannually
(c) quarterly
(d) monthly
(e) daily

Respuesta :

04-11-2019

Answer:

Amount = 3000(1+.09/m)^(15m)

Step-by-step explanation:

(a) annually, m=1

(b) semiannually, m=6

(c) quarterly, m=4

(d) monthly, m=12

(e) daily, m=365

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