SOLUTION: If 19100 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, to the neare
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-> SOLUTION: If 19100 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, to the neare
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Question 1208212: If 19100 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, to the nearest cent.
(a) Annual: $
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If 19100 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, to the nearest cent.
(a) Annual: $
(b) Semiannual: $
(c) Monthly: $
(d) Daily: $
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(a) FV (future value) = = = use your calculator = 25560.11 dollars.
(b) FV (future value) = = = use your calculator = 25668.80 dollars;
(c) FV (future value) = = = use your calculator = 25763.04 dollars.
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To see many other similar (and different) solved problems on compounded interest accounts, look into the lesson
- Compounded interest percentage problems
in this site.
