use the compound interest formulas a = p(1 + r/n)^nt and a = pe^rt to solve the problem given. round answers…

use the compound interest formulas a = p(1 + r/n)^nt and a = pe^rt to solve the problem given. round answers to the nearest cent. find the accumulated value of an investment of $15,000 for 6 years at an interest rate of 6.5% 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.)

use the compound interest formulas a = p(1 + r/n)^nt and a = pe^rt to solve the problem given. round answers to the nearest cent. find the accumulated value of an investment of $15,000 for 6 years at an interest rate of 6.5% 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.)

Answer

Explanation:

Step1: Identify the values of $P$, $r$, $n$, and $t$

$P = 15000$, $r=0.065$, $t = 6$. When compounded semiannually, $n = 2$.

Step2: Substitute into the compound - interest formula $A=P(1 +\frac{r}{n})^{nt}$

$A=15000(1+\frac{0.065}{2})^{2\times6}$

Step3: Calculate the value inside the parentheses

$1+\frac{0.065}{2}=1 + 0.0325=1.0325$

Step4: Calculate the exponent

$2\times6 = 12$

Step5: Calculate the power

$(1.0325)^{12}\approx1.468534$

Step6: Calculate the final amount

$A = 15000\times1.468534=22028.01$

Answer:

$22028.01$