Find the accumulated value of an investment of 15,000 for 4 years at an interest of 4% if the money is a. Compound semiannually; b. Compounded quarterly; c. Compounded monthly; d. Compounded continuously.

Compounded Semiannually: $17,574.89

Compounded Quarterly: $17,588.68

Compounded Monthly: $17,597.98

Compounded Continuously: $17,602.66

Step-by-step explanation:

Lets use the compound interest formula provided to solve this:

P = initial balance

r = interest rate (decimal)

n = number of times compounded annually

t = time

First, change 4% into a decimal:

4% -> -> 0.04

Now, plug in the values to the equation:

Compounded Semiannually:

Compounded Quarterly:

Compounded Monthly:

To find the value if compounded continuously, use the following formula:

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step-by-step explanation: