Question

TYPE 1: If $3500 is invested at 9% compounded monthly, what will the future value be in four years?​

Answer 1

Answer:

$3500 invested at 9% compounded monthly will accumulate to $5009.92 in four years. How much should be invested in an account paying 9% compounded daily for it to accumulate to $5,000 in five years? We know the future value, but need to find the principal. $5000=P

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Answer 2

Step-by-step explanation:

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