Question

PLEASE HURRY! 100 PTS!

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

Weekly: $17,253.46
Monthly: $17,251.29
Continuously: $17,254.11
Quarterly: $17,245.69
Daily: $17,254.01
Semi-Annually: $17,237.36