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Compound Interest If $\$ 10,000$ is invested at an interest rateof 3$\%$ per year, compounded semiannually, find the value ofthe investment after the given number of years.$$\begin{array}{lll}{\text { (a) } 5 \text { years }} & {\text { (b) } 10 \text { years }} & {\text { (c) } 15 \text { years }}\end{array}$$

a) $\$ 11,605.41$b) $\$ 13,468.55$c) $\$ 15,630.80$

Algebra

Chapter 4

Exponential and Logarithmic Functions

Section 1

Exponential Functions

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Okay, So Question 59 asks us to find the value of the investment after three different years. So we have an initial investment of 10,000 with a rate of 3% per year. Com pounded semi annually. Something's it's compounded twice. So it's 0.0 3/2 because it's compound twice then, too. Times t So that's our equation. So the 1st 1 asks us five years, be asks us 10 years and see asks those 15 years so over gonna dio is plug into our equation and that gets us 11,000 600 or five and for your own scents. So now 10 years is the same thing. So we're just gonna rewrite the nation Nude 10 and that gets us 13,465 and 55 cents. And after 15 years seen occlusion, we get a total of 15,630 80 cents

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