Question: Use the compound interestformulas, Upper A equals Upper P left parenthesis 1 plus StartFraction r Over n EndFraction right parenthesis Superscript nt A=P1+rnnt and Upper

Use the compound interestformulas, Upper A equals Upper P left parenthesis 1 plus StartFraction r Over n EndFraction right parenthesis Superscript nt

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

A=Pert, to solve the following problem.

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

$20,000 for 6

6 years at an interest rate of 5.5 %

5.5% if the money is a. compoundedsemiannually; b. compoundedmonthly; c. compounded continuously.

a. What is the accumulatedvalue, if the money is compoundedsemiannually?

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