Question

13.1.21 # $7000 is invested at 9% compounded (a) annually. (b) semiannually, or (c) quarterly, what is the amount after 6 years? (a) If it is compounded annually, what is the amount after 6 years? A= $ 11739.7 (Round to the nearest cent as needed.) (b) If it is compounded semiannually, what is the amount after 6 years? A = $ 11,871.17 (Round to the nearest cent as needed.) (c) If it is compounded quarterly, what is the amount after 6 years? A=$ (Round to the nearest cent as treded.) Clear All Enter your answer in the answer box and then click Check Answer

Answer 1

corempozual interest (9) = P(1+" р- ръincipcal on the rate of interest t time no no of times it is covaspando so given p = $7000 8 = 9-12 te bye cars a) it is is compounded anually, ie n=1 A = 7000 (1 + 9.10 ) = 7000 (14 0.09 14 =) 2000 (1.oggy =) 7000 8 1.4115 A => 988107121 After 6 years Columpound interest annurally CA 9581.071

by if it is compounde . is compounced semian calle - ie n=2 (2) (4) ^ = $7000(1+ 9.40 ) ?? = 7000 (1 +0:09) - 5 7000 (1 +0.04518 =) 7000 (1-0458 =) 7000 81.4221 Atly 6 years A =>*9954.70427 ... compounded interest semicencually *=*9959.70427 7 ?if it is compounded quarterly, ien=4 A = $ 7000(1+ 9-1.14)14) = 7000 (1 + 0.09 15 € 700011 toodas)'s =) 7000 (1.022556 =) 7000 C1.4876) A =);9993.3501 After 6 yours, compounded interestaurant onder interest quarterly A=39993.350