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Compare the investment below to an investment of the same principal at the same rate compounded annually.

principal: $1,000, annual interest: 6%, interest periods: 6, number of years: 14 more than the investment compounded annually.

After 14 years, the investment compounded periodically will be worth $ ____(Round to two decimal places as needed.)​

Respuesta :

francocanacari

After 14 years, the investment will be worth $ 2,306.72.

Given that an investment has a $ 1000 principal, 6% annual interest, 6 interest periods and 14 years of investment, to determine, after 14 years, how much the investment will be worth, the following calculation must be performed:

  • 1000 x (1 + 0.06 / 6) ^ 14x6 = X
  • 1000 x 1.01 ^ 84 = X
  • 1000 x 2.3067 = X
  • 2,306.72 = X

Therefore, after 14 years, the investment will be worth $ 2,306.72.

Learn more about maths in https://brainly.com/question/15603792

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