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Home > PC3 > Chapter 13 > Lesson 13.1.3 > Problem 13-40

13-40.

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 . Calculate the value of the investment after one year, given the following rates:

  1. Annual interest of compounded monthly.

  2. Annual interest of compounded quarterly.

  3. Annual interest of compounded weekly.

  4. Annual interest of compounded daily.