If $500 is invested at 6% compounded
(A) annually, (B) quarterly, (C) monthly,
what is the amount after 8 years? How much interest is earned?
(A) If it is compounded annually, what is the amount?
$
(Round to the nearest cent.)
How much interest is earned?
$ (Round to the nearest cent.)
(B) If it is compounded quarterly, what is the amount?
$ (Round to the nearest cent.)
How much interest is earned?
$ (Round to the nearest cent.)
(C) If it is compounded monthly, what is the amount?
$ (Round to the nearest cent.)
How much interest is earned?