Question: please show work 1) Use the formula A =P 1+ and the knowledge that a person invested $5000 at a rate of 5% for 12
1) Use the formula A =P 1+ and the knowledge that a person invested $5000 at a rate of 5% for 12 years, find the following: a) What is the future value of the investment compounded daily? b) What is the future value of the investment compounded semi-annually? c) What is the future value of the investment compounded annually? d) What is the future value of the investment compounded weekly? e) If the future value was $5000, how much would this person have to initially invest if it is compounded monthly
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