If $300 is invested at an interest rate of 5.5% per year, find the amount of the

Algebra
Tutor: None Selected Time limit: 1 Day

 investment at the end of 15 years for the following compounding methods. (Round your answers to the nearest cent.)

(a) Annually
 

(b) Semiannually
 

(c) Quarterly
 

(d) Continuously
Apr 4th, 2015

a) $600*(1.055) = $669.74

b) $600*(1.0275)^2 = $676.98

c) $600*(1.01375)^4= $680.73

d) $600*e^(.055*13) = $684.56

Apr 4th, 2015

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