### Home > PC > Chapter 8 > Lesson 8.1.3 > Problem 8-47

8-47.

Most investments receive compound interest as opposed to simple interest. This allows an investment to earn interest on the interest already received. Miranda plans to invest

Annual interest of

compounded monthly. Hint: See part (d) of the previous problem. dollarsAnnual interest of

compounded quarterly (4 times per year). dollarsAnnual interest of

compounded weekly. Follow the same thinking process as in the parts above.

Annual interest of

compounded daily. Follow the same thinking process as in the part (a) and (b) above.