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Use the compound interest formulas, A=P
= P(₁ + 1) m and A Pet, to solve the following problem.
Find the accumulated value of an investment of $20,000 for 4 years at an interest rate of 5.5% if the money is a.
compounded semiannually; b. compounded monthly; c. compounded continuously.
a. What is the accumulated value, if the money is compounded semiannually?
(Ropnd your answer to the nearest cent.)
please help!
