SOLUTION: If 27300 dollars is invested at an interest rate of 6 percent per year, find the value of the investment at the end of 5 years for the following compounding methods.
Annual=
Semi
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Annual=
Semi
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Question 1035124: If 27300 dollars is invested at an interest rate of 6 percent per year, find the value of the investment at the end of 5 years for the following compounding methods.
Annual=
Semiannual= Answer by solver91311(24713) (Show Source):
where is the future value, is the present value or invested principal, is the decimal representation of the annualized interest rate, is the number of compounding periods per year, and is the number of years.
For continuous compounding,
where is the base of the natural logarithms.
Plug in your numbers and do the arithmetic
John
My calculator said it, I believe it, that settles it
