SOLUTION: Find the accumulated value on an investment of $15,000.00 for 9 years at an interest rate of 11% if the money is compounded
a) Semi- annually
b) Quarterly
c) Monthly
d
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a) Semi- annually
b) Quarterly
c) Monthly
d
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Question 1003998: Find the accumulated value on an investment of $15,000.00 for 9 years at an interest rate of 11% if the money is compounded
a) Semi- annually
b) Quarterly
c) Monthly
d) Continuously Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! P=Po{1+r/t}^nt
Semi-annually 15000*(1+0.11/2)^18=$39,322.99
Quarterly 15000(1+(0.11/4))^36=$39,832.46
Monthly 15000(1+(0.11)/12)^108=$40,186.87
Continuously 15000e^(0.11*9)=15000e^(0.99)=$40,368.52
