Find the value of $10000 at the end of one year if it is invested in an account that has an interest rate of 4.95% and is compounded in accordance with the rules below. (a). compounded monthly (b). compounded daily (assuming a 365- day year) (c). compounded quarterly

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Do you know the compound interest formula?

\[F=P(1+{r \over n})^{nt}\]F=Future amount P=Initial amount r=annual interest rate n=number of times compounded in a year t=number of years. So, for (a), compounded monthly. n=12, t=1, P=10000, r=0.0495. Substitute all that in and you'll have your F, the future amount.

Actually they are giving me the formula A=P(1+r/m)mt

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