2 problems based on algebra and interest based on finance
8. Use either
A=P(1+rn)nt or
A=Pert to answer the following questions.
(a) Find the accumulated value of an investment of $20,000 at 5% compounded
annually for 10 years.
(b) Find the accumulated value of an investment of $20,000 at 5% compounded
semiannually for 10 years.
(c) Find the accumulated value of an investment of $20,000 at 5% compounded
quarterly for 10 years.
(d) Find the accumulated value of an investment of $20,000 at 5% compounded
monthly for 10 years.
(e) Find the accumulated value of an investment of $20,000 at 5% compounded
continuously for 10 years.
9. Explain and find each of the following.
(a) $10,000 invested at 6% compounded annually for 20 years.
(b) $10,000 invested at 6% compounded semiannually for 20 years.
(c) $10,000 invested at 6% compounded quarterly for 20 years.
(d) $10,000 invested at 6% compounded monthly for 20 years.
(e) $10,000 invested at 6% compounded continuously for 20 years.
