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22-04-2024
Business

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Use the compound interest formulas A = P(1 + r/n)ⁿᵗ and A = Peʳᵗ to solve the exercises below. Find the accumulated value of an investment of $20,000 for 5 years at an annual interest rate of 5.5% if the money is
Compounded semiannually: _____ dollars
Compounded quarterly: dollars
Compounded monthly: _ dollars
compounded continuously: ___ dollars

Answer :

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