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

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FBFHER

Mathematics

Description

 the 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

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Explanation & Answer

a. $316.5

b. $308.25

c. $304.125


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