SOLUTION: If 1100 dollars is invested in an account for 10 years. Find the value of the investment at the end of 10 years if the interest is:
(a) 6% compounded annually: $
(b) 6% comp
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Question 1195609: If 1100 dollars is invested in an account for 10 years. Find the value of the investment at the end of 10 years if the interest is:
(a) 6% compounded annually: $
(b) 6% compounded semiannually: $
(a) 6% compounded quarterly: $
(b) 6% compounded monthly: $
(a) 6% compounded daily (ignore leap years): $
Answer by ikleyn(52794) (Show Source): You can put this solution on YOUR website!
.
Having so great interest to the subject, you may learn it from this lesson
- Compounded interest percentage problems
in this site.
You will find there many similar solved problems with detailed explanations.
Happy learning ( ! )
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