Question 1201299: If 46500 dollars is invested at an interest rate of 8 percent per year, find the value of the investment at the end of 5 years for the following compounding methods, to the nearest cent.
(a) Annual: $
(b) Semiannual: $
(c) Monthly: $
(d) Daily: $
Found 2 solutions by josgarithmetic, MathTherapy:
Answer by josgarithmetic(39630)   (Show Source):
You can put this solution on YOUR website! Just a little bit of help...
Annual? That was given.
Semiannual? This is twice per year, so two compounding periods.
Each period,  , 4%.
Daily? If assume 365 days in the year, then the year has 365 compounding periods, and each day's rate is  , or 0.021918%, or wherever to take the desired accuracy.
Answer by MathTherapy(10557)  (Show Source):
You can put this solution on YOUR website!
If 46500 dollars is invested at an interest rate of 8 percent per year, find the value of the investment at the end of 5 years for the following compounding methods, to the nearest cent.
(a) Annual: $
(b) Semiannual: $
(c) Monthly: $
(d) Daily: $
Only HINTS you need: 
Calculate A, in each case, per given instructions!!
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