Question

Find the total value of the investment after the time given. 10) $14,000 at 12% compounded semi-annually for 3 years (2 marks) 11) $192 at 4.4% compounded quarterly for 5 years (2 marks)

Answer 1

Where *=> we know that the compound interest formula is given by A= P(1+$) - A = Final balance Po principal balance rInterest rate (in decimal) ne Number of times interest is compounded per unit t. t= Time for which duration, the money is invested.
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o) → Here P= 14000 dollare 9-12%= to lim decimals) ME 2 (osince compounded semi-amually) t = 3 years Hence, from , we get A = 14000 (it 12/100 72x3 = 14000 (1+0.06)6 = 140uo x (1.06)6 - 19859.2675 Hence, the total value becomes 19859.27 Dollars. - 2 117) Here P = 192 Dollargs ore 4.44. decimals ) M24 Csince compounded quarterly) t-5 years. Hence, from 6, we get 192(1+ 44/1000 1445 4 = 192 (1+ 4400) 20 = 192 * (1.011) 20 = 238.959521 Hence, the total valle becomes 238,96 Dollars.
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