A principal of $5500 is invested in an account paying an annual rate of 7%. Find the amount in the account after 4 years if the account is compounded semiannually, quarterly, and monthly.

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Ertes asked Apr 21, 2023

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A principal of $5500 is invested in an account paying an annual rate of 7%. Find the amount in the account after 4 years if the account is compounded semiannually, quarterly, and monthly.

Mathematics
college

Ertes asked Apr 21, 2023

by Ertes

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Answer:

Formulae is Future value, see in picture I've done example 1 for u.

A principal of $5500 is invested in an account paying an annual rate of 7%. Find the-example-1

Chris Travers answered Apr 28, 2023

by Chris Travers

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