Business, 05.03.2021 04:40 stephanie9291

Find the amount to which $600 will grow under each of these conditions: 8% compounded annually for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 8% compounded semiannually for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 8% compounded quarterly for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 8% compounded monthly for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 8% compounded daily for 3 years. Assume 365-days in a year. Do not round intermediate calculations. Round your answer to the nearest cent.

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Answer from: lilyella06

Future values:

a. $755.83

b. $759.19

c. $760.95

d. $762.14

e. $762.75

Explanation:

a) Data and Calculations:

Present value = $600

Conditions:

1. 8% compounded annually for 3 years:

N (# of periods) = 3

I/Y (Interest per year) = 8

PV (Present Value) = $600

PMT (Periodic Payment) = $ 0

FV = $755.83

Total Interest = $155.83

2. 8% compounded semiannually for 3 years.

N (# of periods) = 6

I/Y (Interest per year) = 4

PV (Present Value) = $600

PMT (Periodic Payment) = $ 0

FV = $759.19

Total Interest$159.19

3. 8% compounded quarterly for 3 years.

N (# of periods) = 12

I/Y (Interest per year) = 2

PV (Present Value) = $600

PMT (Periodic Payment) = $ 0

FV = $760.95

Total Interest$160.95

4. 8% compounded monthly for 3 years.

N (# of periods) = 36

I/Y (Interest per year) = 0.66667%

PV (Present Value) = $600

PMT (Periodic Payment) = $0

FV = $762.14

Total Interest = $162.14

5. 8% compounded daily for 3 years. Assume 365-days in a year.

N (# of periods) = 1,095

I/Y (Interest per year) = 0.02192%

PV (Present Value) = $600

PMT (Periodic Payment) = $0

FV = $762.75

Total Interest$162.75

Answer from: Quest

you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

Answer from: Quest

$2.00 for three shots.

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Find the amount to which $600 will grow under each of these conditions: 8% compounded annually for 3...