If 4000 dollars is invested in a bank account at an interest rate of 8 per cent per year, determine each of the following. Round each answer to the nearest cent.
Find the amount in the bank after 10 years if interest is compounded annually:
Find the amount in the bank after 10 years if interest is compounded quarterly:
Find the amount in the bank after 10 years if interest is compounded monthly:
Finally, find the amount in the bank after 10 years if interest is compounded continuously:
Find the amount in the bank after 10 years if interest is compounded annually:
Find the amount in the bank after 10 years if interest is compounded quarterly:
Find the amount in the bank after 10 years if interest is compounded monthly:
Finally, find the amount in the bank after 10 years if interest is compounded continuously: