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$1,000 at 18% interest rate for 18 years, compounded quarterly, semi-monthly, and monthly.

Nov 3rd, 2015

Thank you for the opportunity to help you with your question!

We have the formula as

Here we have to calculate the amount A.

P=$1000

r=18%=.18

n=Number of compounding.For quarterly n=4,semiannually n=2 and monthly n=12,semimonthly,n=24

a)Compounded quarterly ,n=4


b)Compounded semi monthly ,n=24

c)compounded monthly ,n=12



Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 3rd, 2015

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