Find the future value and interest earned if $56,780 is invested at 5.3% compounded. (a) quaterly for 23 quaters (b) continously for 15 yrs.

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get our expert's

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this and thousands of other questions.

A community for students.

Find the future value and interest earned if $56,780 is invested at 5.3% compounded. (a) quaterly for 23 quaters (b) continously for 15 yrs.

Mathematics
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this and thousands of other questions

Can anyone help me??
is the 5.3% aer, gross, interest per month per year ... need more information i'm afraid
Use the compound interest formula. I will try and put it here. A=P(1+r/n)^nt Where A= balance P = Principal r= annual interest rate n=compounding time in years

Not the answer you are looking for?

Search for more explanations.

Ask your own question

Other answers:

For part b. use the interest formula for continious compounding which is \[A=Pe ^{rt}\] the e is approximately 271828 it is called the "natural base" it is used in many exponential problems. Do you need further help?
ooop I omitted the decimal point for the value of e. It is 2.71828
Part a. The equation would appear like this: 56780(1+.053/4)^(4)(5.75) The 5.75 is the 23 quarters converted to years. 56780(1.01325)^23=$76,855.95
part b, I leave for you to try.

Not the answer you are looking for?

Search for more explanations.

Ask your own question