Find the accumulated value of an investment of $15,000 for 3 years at an interest rate of 1.45% if the money is a. compounded semiannually; b.
compounded quarterly; c. compounded monthly d. compounded continuously.
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a. What is the accumulated value if the money is compounded semiannually?
$ 15664.44
(Round to the nearest cent as needed.)
b. What is the accumulated value if the money is compounded quarterly?
$ 15,665.67
(Round to the nearest cent as needed.)
c. What is the accumulated value if the money is compounded monthly?
(Round to the nearest cent as needed.)
