Use the Compound Interest Formulas A $$A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { and } A = P e ^ { r t } \text { to solve. }$$

question 61

Multiple Choice

Use the compound interest formulas A $$A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { and } A = P e ^ { r t } \text { to solve. }$$
-Find the accumulated value of an investment of $12,000 at 8% compounded semiannually for 11 years.

• A) $28,439.03
• B) $27,979.67
• C) $18,473.45
• D) $22,560.00

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