Question 1206586
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Answers:
(a) <font color=red>31370.62</font>
(b) <font color=red>30976.20</font>
(c) <font color=red>30940.39</font>


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Work Shown for Part (a)


A = P*(1+r/n)^(n*t)
50000 = P*(1+0.06/1)^(1*8)
50000 = P*1.59384807
P = 50000/1.59384807
P = 31370.61865627
P = <font color=red>31370.62</font>


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Work Shown for Part (b)


A = P*(1+r/n)^(n*t)
50000 = P*(1+0.06/12)^(12*8)
50000 = P*1.61414271
P = 50000/1.61414271
P = 30976.19540716
P = <font color=red>30976.20</font>


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Work Shown for Part (c)


A = P*(1+r/n)^(n*t)
50000 = P*(1+0.06/365)^(365*8)
50000 = P*1.61601065
P = 50000/1.61601065
P = 30940.39015151
P = <font color=red>30940.39</font>
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