81.4k views
0 votes
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.

User Kirbuchi
by
8.0k points

1 Answer

3 votes

Answer:

annual - $9,231.74

quarterly - $9,363.06

monthly - $9,394.09

continuously -$9,409.87

Explanation:

User Niku
by
8.4k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories