Question

We know that when a particular amount of money P, called the principal, is invested at...

We know that when a particular amount of money P, called the principal, is invested at the interest rate r and is compounded n times a year, the amount of A of money accumulated after t years is A(t)=P(1+r/n)^nt

Rounded to the nearest cent, find the amount of money accumulated if $ 5 , 000 is invested for 2 years at 6 % interest and is compounded.

Quarterly: $

Monthly: $

Daily(assuming 365 days in a year): $

Coutinuously: $

Math   Calculus   
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