Solved

 Use the compound interest formulas A=P(1+rn)nt and A=Pert to solve. \text { Use the compound interest formulas } A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { and } A = P e ^ { r t } \text { to solve. }

Question 78

Multiple Choice

 Use the compound interest formulas A=P(1+rn) nt and A=Pert to solve. \text { Use the compound interest formulas } A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { and } A = P e ^ { r t } \text { to solve. }
-Find the accumulated value of an investment of $3000 at 8% compounded annually for 9 years.


A) $5552.79
B) $4920.00
C) $5997.01
D) $5160.00

Correct Answer:

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