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Anthony and Michelle Constantino just got married and received $35,000 in cash gifts for their wedding. How much will they have on their th anniversary if they place half of this money in a fixed-rate investment earning percent compounded annually? Would the future value be larger or smaller if the compounding period was 6 months? How much more or less would they have earned with this shorter compounding period?

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06-11-2022
Business

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Question content area top
Part 1
Anthony and Michelle Constantino just got married and received $35,000 in cash gifts for their wedding. How much will they have on their th anniversary if they place half of this money in a fixed-rate investment earning percent compounded annually? Would the future value be larger or smaller if the compounding period was 6 months? How much more or less would they have earned with this shorter compounding period?

Sagot :

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