A P 1 n where A is the accumulated amount after an initial

Last updated: 10/26/2023

A P 1 n where A is the accumulated amount after an initial investment of P dollars is invested for t years at annual interest rate 7 compounded n times per year Use the formula above to determine the accumulated amount for each of the following different scenarios Round solutions to the nearest cent Assume there are 365 days in a year If 39 500 is invested for 14 years and earns 10 interest compounded monthly the accumulated amount is A If 16 500 is invested for 26 years and earns 7 interest compounded quarterly the accumulated amount is A If 30 500 is invested for 16 years and earns 3 interest compounded daily the accumulated amount is A If 19 500 is invested for 13 years and earns 6 interest compounded annually the accumulated amount is