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: $
(b) Semiannual: $
(c) Monthly: $
(d) Daily: $
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<pre>
(a)  FV (future value) = {{{19100*(1+0.06)^5}}} = {{{19100*1.06^5}}} = use your calculator = 25560.11 dollars.


(b)  FV (future value) = {{{19100*(1+0.06/2)^(2*5)}}} = {{{19100*1.03^10}}} = use your calculator = 25668.80  dollars;


(c)  FV (future value) = {{{19100*(1+0.06/12)^(12*5)}}} = {{{19100*1.005^60}}} = use your calculator = 25763.04  dollars.
</pre>

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To see many other similar &nbsp;(and different) &nbsp;solved problems on compounded interest accounts, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Compound-interest-percentage-problem.lesson>Compounded interest percentage problems</A> 

in this site.


Learn the subject from there.



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