2 problems based on algebra and interest based on finance

8. Use either

A=P(1+rn)nt or

A=Pert to answer the following questions.

(a) Find the accumulated value of an investment of $20,000 at 5% compounded

annually for 10 years.

(b) Find the accumulated value of an investment of $20,000 at 5% compounded

semiannually for 10 years.

(c) Find the accumulated value of an investment of $20,000 at 5% compounded

quarterly for 10 years.

(d) Find the accumulated value of an investment of $20,000 at 5% compounded

monthly for 10 years.

(e) Find the accumulated value of an investment of $20,000 at 5% compounded

continuously for 10 years.

9. Explain and find each of the following.

(a) $10,000 invested at 6% compounded annually for 20 years.

(b) $10,000 invested at 6% compounded semiannually for 20 years.

(c) $10,000 invested at 6% compounded quarterly for 20 years.

(d) $10,000 invested at 6% compounded monthly for 20 years.

(e) $10,000 invested at 6% compounded continuously for 20 years.