Social Studies, 03.07.2020 03:01 barbaramathews1123
Complete the table to determine the effect of the number of compounding periods when computing interest. Suppose that $8000 is invested at 3.8%
interest for 12 yr under the following compounding options. Round answers in the second column to the nearest whole number. Round answers in the
last column to the nearest cent.
Compounding Option
n Value
Result
x
(a) Annually
72 =
S
(b) Quarterly
$
(c) Monthly
12 =
S
(d) Daily
n = 365
(e) Continuously
Not Applicable
SI
Answers: 1
where:
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