you invest $2500 at an annual interest rate of 7%. what will be the value of...

you invest $2500 at an annual interest rate of 7%. what will be the value of your investment after 5 years if the interest rate is i/ compounded ii/ compounded monthly and compounded continuously

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Expert Solution

Value of investment after 5 years:

If compounded annually= $ 3,506.38

If compounded quarterly= $ 3,536.95

If compounded monthly= $ 3,544.06

If compounded continuously= $ 3,547.67

Calculations as below:

jeff jeffy answered 1 year ago

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