6. Exponential & Logarithmic Functions
Introduction to Exponential Functions
3:56 minutes
Problem 53c
Textbook Question
Textbook QuestionUse the compound interest formulas A = P (1+ r/n)^nt and A =Pe^rt to solve exercises 53-56. Round answers to the nearest cent. Find the accumulated value of an investment of $10,000 for 5 years at an interest rate of 1.32% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously.
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