Question: Use the compound interest formulas and A = Pert to solve Exercises 5356. Round answers to the nearest cent. Find the accumulated value of an

Use the compound interest formulas A = P(1 n ntand A = Pert to solve Exercises 53–56. Round answers to the nearest cent.


Find the accumulated value of an investment of $5000 for 10 years at an interest rate of 6.5% if the money is


a. Compounded semiannually;


b. Compounded quarterly;


c. Compounded monthly;


d. Compounded continuously.

A = P(1 n nt

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