Use the compound interest formulas a=p(1+r/n)^nt and a=pe^rt to solve the problem given. round answers to the nearest cent.
find the accumulated value of an investment of $15,000 for 6 years at an interest rate of 4% if the money is a. compounded
semiannually; b. compounded quarterly: c. compounded monthly d. compounded continuously.

a) $19,023.63

b) $19,046.02

c) $19,061.13

d) $19,068.74

Step-by-step explanation:

P = 15000

t = 6

r = 0.04

a) Compounded semiannually means 2 times per year, so n = 2.

A = 15000 (1 + 0.04/2)^(2×6)

A = 19023.63

b) Compounded quarterly means 4 times per year, so n = 4.

A = 15000 (1 + 0.04/4)^(4×6)

A = 19046.02

c) Compounded monthly means 12 times per year, so n = 12.

A = 15000 (1 + 0.04/12)^(12×6)

A = 19061.13

d) Compounded continuously means we use the continuous equation:

A = 15000 e^(0.04×6)

A = 19068.74

d

step-by-step explanation:

the 2000 florida legislature amended section 322.05, florida statutes, changing the requirements to obtain a class e license for a driver under the age of 18 holding a learner's license. the following requirements must be met in order to obtain a regular class e license if a learner's license is issued on or after october 1, 2000:

must hold a learner's license for at least 12 months or until the 18th birthday.

must have no convictions 12 months from the issue date of the learner's license.

may have one traffic conviction within 12 months from the issue date of the learner's license if adjudication is withheld.

a parent, legal guardian, or responsible adult over 21 years old must certify that the driver has 50 hours driving experience, including 10 hours of night time driving.