Question: Use the compound interest formulas Upper A equals Upper P left parenthesis 1 plus Start Fraction r Over n End Fraction right parenthesis Superscript nt

Use the compound interest formulas Upper A equals Upper P left parenthesis 1 plus Start Fraction r Over n End Fraction right parenthesis Superscript nt

A=P1+rnnt and Upper A equals Pe Superscript rt

A=Pert to solve the problem given. Round answers to the nearest cent.

Find the accumulated value of an investment of $ 20 comma 000

$20,000 for 4

4 years at an interest rate of 7 %

7% if the money is a. compoundedsemiannually; b. compoundedquarterly; c. compounded monthly d. compounded continuously.

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