SOLUTION: compute the value for the given investments using the different types of compounding. Present value is $8000. Annual interest rate is 4.5% for 3 years. Please compound semi annuall
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Question 1074810: compute the value for the given investments using the different types of compounding. Present value is $8000. Annual interest rate is 4.5% for 3 years. Please compound semi annually, Quarterly, Monthy, and Daily. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! semiannual is (1+0.045/2)^6*8000=$9142.60, round at end.
quarterly is (1+(.045/4))^12=$9149.40
monthly is (1+(.045/12))^36=$9153.98
daily is (1+(.045/365))^1095=$9156.22
