SOLUTION: suppose you invest $1500 in an acount paying 4.75% annual interest. what is the account balance after 25 years with the interest compounded annualy, semiannually, quarterly and mon

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Question 602612: suppose you invest $1500 in an acount paying 4.75% annual interest. what is the account balance after 25 years with the interest compounded annualy, semiannually, quarterly and monthly
Answer by solver91311(16897) About Me  (Show Source):
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Don't forget that is expressed as a decimal

Plug in your numbers. For annual compounding, , for semiannual, , for quarterly, , and for monthly, .

John

My calculator said it, I believe it, that settles it
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