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OpenStudy (anonymous):
Sharon invests $2500 at an annual rate of 9%. How much is the investment worth after 10 years if the interest is compounded... a. annually b. monthly c. daily d. hourly
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OpenStudy (anonymous):
\[2500(1.09)^{10}\] for the first one
OpenStudy (anonymous):
\[2500(1+\frac{.09}{12})^{120}\] for the second
OpenStudy (anonymous):
\[2500(1+\frac{.09}{365})^{3650}\] for the third
OpenStudy (anonymous):
Thank you so much!
terenzreignz (terenzreignz):
I just came here to say... 9% compounded per month is already too good to be true, but daily?! HOURLY?! :D
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OpenStudy (anonymous):
Lol i wish that was me :)
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