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Part 1 of 4
A=P[1 + =]
Use the compound interest formulas A
mearest cent.
and A= Pet to solve the problem given.
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Find the accumulated value of an investment of $15,000 for 3 years at an interest rate of 4.5% if the money is a.
compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously.
a. What is the accumulated value if the money is compounded semiannually?
(Round your answer to the nearest cent. Do not include the $ symbol in your answer.)
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