Question

Using the chart "Amount of $1 at Compound Interest" from previous reading section "More Compound Interest", find the

total amount and amount of In interest paid in the following compound
interest problems.
$3,000 at 8% for 5 years.
Compounding| Total Amount | Interest Amount
annually
semiannually
quarterly

Answer 1

Explanation:

Quarterly: Total Amount= $1,632.62 Interest Amount= $732.62

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