3) Joe has invested $5000 in each of the following different banks A, B, C, D,...

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3) Joe has invested $5000 in each of the following different banks A, B, C, D, E and F totaling $30,000 for one year. Bank A computes the compound interest annually. Bank B computes the compound interest semi-annually. Bank C computes the compound interest quarterly. Bank D computes the compound interest monthly. Bank E computes the compound interest weekly. Bank F computes the compound interest daily. 3.1) Find the future values of each of Joe's investment after one year. 3.2) Find the total future values of Joes' investment after one year. 3) Joe has invested $5000 in each of the following different banks A,B, C, D, E and F totaling $30,000 for one year. Bank A computes the compound interest annually. Bank B computes the compound interest semi-annually. Bank C computes the compound interest quarterly. Bank D computes the compound interest monthly. Bank E computes the compound interest weekly. Bank F computes the compound interest daily. 3.1) Find the future values of each of Joe's investment after one year. 3.2) Find the total future values of Joes' investment after one year. 3) Joe has invested $5000 in each of the following different banks A, B, C, D, E and F totaling $30,000 for one year. Bank A computes the compound interest annually. Bank B computes the compound interest semi-annually. Bank C computes the compound interest quarterly. Bank D computes the compound interest monthly. Bank E computes the compound interest weekly. Bank F computes the compound interest daily. 3.1) Find the future values of each of Joe's investment after one year. 3.2) Find the total future values of Joes' investment after one year. 3) Joe has invested $5000 in each of the following different banks A,B, C, D, E and F totaling $30,000 for one year. Bank A computes the compound interest annually. Bank B computes the compound interest semi-annually. Bank C computes the compound interest quarterly. Bank D computes the compound interest monthly. Bank E computes the compound interest weekly. Bank F computes the compound interest daily. 3.1) Find the future values of each of Joe's investment after one year. 3.2) Find the total future values of Joes' investment after one year.

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31 To find the future value of an investment we can use the formula FV PV x 1 rn Where FV Future Value PV Present Value the initial investment amount ... View the full answer