SOLUTION: An investor places $6000 with a 4% return. How much is in the account in 20 years:
a. If the account is compounded annually?
b. If the account is compounded quarterly?
c. If t
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-> SOLUTION: An investor places $6000 with a 4% return. How much is in the account in 20 years:
a. If the account is compounded annually?
b. If the account is compounded quarterly?
c. If t
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Question 992979: An investor places $6000 with a 4% return. How much is in the account in 20 years:
a. If the account is compounded annually?
b. If the account is compounded quarterly?
c. If the account is compounded monthly? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! An investor places $6000 with a 4% return. How much is in the account in 20 years:
a. If the account is compounded annually?
A(20) = 6000(1.04)^20 =
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b. If the account is compounded quarterly?
A(20) = 6000(1+(0.04/4))^(4*20)
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c. If the account is compounded monthly?
A(20) = 6000(1+(0.04/12))^(12*20)
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Cheers,
Stan H.
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