If $6,000 is invested in a bank account at an interest rate of 9 per cent per year, find the amount in the bank after 5 years if interest is compounded annually, quarterly, monthly, and continuously.

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Dmitrii Makarov asked Jul 17, 2022

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If $6,000 is invested in a bank account at an interest rate of 9 per cent per year, find the amount in the bank after 5 years if interest is compounded annually, quarterly, monthly, and continuously.

Mathematics
college

Dmitrii Makarov asked Jul 17, 2022

by Dmitrii Makarov

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Answer:

annual - $9,231.74

quarterly - $9,363.06

monthly - $9,394.09

continuously -$9,409.87

Explanation:

Jirinovo answered Jul 21, 2022

by Jirinovo

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