Question

PLEASE HURRY!

Jim put his $15,000 into a high yields savings account that pays 2.8% annually.

Jim saw that other banks offered the same rates but compounded the interest more often.

Consider if he still put $15,000 into a savings account for 5 years that provided 2.8% annually but compounded it in each of the following ways.

Match the following:

Answer 1

See picture. I made a 100.

Explanation:

Weekly: $17253.46

Daily: $17254.01

Monthly: $17251.29

Quarterly: $17245.69

Semi-Annually: $17237.36

Continuously: $17254.11