SOLUTION: Suppose $17,000 is invested in an account with an APR of 5%. If the interest is compounded annually, how much interest is earned over the first 6 years? $ If the inte

Question 1148952: Suppose $17,000 is invested in an account with an APR of 5%.
If the interest is compounded annually, how much interest is earned over the first 6 years?
$

If the interest is compounded monthly, how much interest is earned over the first 6 years?
$

If the interest is compounded daily, how much interest is earned over the first 6 years?
$

If the interest is compounded continuously, how much interest is earned over the first 6 years?
$

Answer by ikleyn(52776) (Show Source): You can put this solution on YOUR website!
.


(a)  Future value =  = .

      Use a calculator.



(b)  Future value =  = .

      Use a calculator



(c)  Future value = .

      Use a calculator.



(d)  Future value = .    e = 2.71828.

      Use a calculator.

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- Compound interest percentage problems
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