Solved

Use the Formulas A=p(1+rn)ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t }

Question 64

Short Answer

Use the formulas A=p(1+rn)ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t } or A=pertA = p _ { \mathrm { e } } r t to find the amount for the investments. $10,500 for 5 years at 4% compounded continuously. Please round the answer to the nearest hundredth. A=A = $__________ $10,500 for 5 years at 4.5% compounded quarterly. Please round the answer to the nearest hundredth. A=A = $__________ Determine which investment amounts to more. __________

Correct Answer:

verifed

Verified

12,824.73;...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents