pmaldonado100 pmaldonado100

04-06-2024
Mathematics

Answered

You deposit $400 in an account earning 8% compound interest for 3 years. Find the future value and the interest earned for each of the following compounding frequencies.

Interest Earned

Frequency

Future Value (Final Amount)

(Difference between Final Amount and Initial Amount)

Annually.

S

Semiannually.

5

Quarterly.

5

S

Monthly:

5

5

Daily:

Enter an integer or decimal number [more]

Answer :

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