Question

Use the compound interest formula for compounding more than once a year to determine the accumulated balance after the stated period. 9) $7000 deposit at an APR of 5% with semiannual compounding for 10 years A) $11,402.26 B) $11,470.32 C) $8960.59 D) $10,500.00 D) $300.00 10) $3000 deposit at an APR of 2% with daily compounding for 5 years C) $3315.51 B) $2843.46 A) $3012.02

Answer 1

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