Use the compound interest formulas A = P (1 + r/n)^nt and A = Pe^rt to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $15,000 for 6 years at an interest rate of 6% if the money is a. compounded semiannually; b. compounded monthly; c. compounded continuously. a. What is the accumulated value if the money is compounded semiannually? $ (Round your answer to the nearest cent.) b. What is the accumulated value if the money is compounded monthly? $ (Round your answer to the nearest cent.) c. What is the accumulated value if the money is compounded continuously? $ (Round your answer to the nearest cent.)
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06, n = 2 (compounded semiannually), and t = 6 years: A = 15000(1 + 0.06/2)^(2*6) A = 15000(1 + 0.03)^12 A = 15000(1.03)^12 A = 15000(1.425761) A = $21,386.41 Show more…
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