Complete the table to determine the effect of the number of compounding periods when computing interest. Suppose that is19,000 invested at 3.5% interest for 10yr under the following compounding options. Round answers in the second column to the nearest whole number. Round answers in the last column to the nearest cent.

26801.38

Step-by-step explanation:

The following parameters are given:

The money invested which is

The principal P = 19000 dollars

The rate R = 3.5 %

Period t = 10 years

The formular for amount of money after 10 years will be

A = P( 1 + R% )^t

Substitute all the parameters into the formula

A = 19000( 1 + 3.5/100 )^10

A = 19000 ( 1 + 0.035 )^10

A = 19000 ( 1.035 )^10

A = 19000 × 1.41059

A = 26801.376

A = 26801.38 dollars