If 42,800 dollars is invested at an interest rate of 5 percent per year, find the value of the investment at the end of 5 years for the following compounding methods.

What is the
Annual $
Semiannual $
Monthly $
Daily $
Continuously $

Annual $54,624.85

Semiannual $54,787.62

Monthly $54,927.75

Daily $54,955.35

Continuously $54,955.35

Step-by-step explanation:

If 42,800 dollars are invested at an interest rate of 5 percent per year, to find the value of the investment at the end of 5 years for the following compounding methods, the following calculations must be performed:

Annual $54,624.85

42,800 (1 + 0.05 / 1)^5x1 = X = 54,624.85

Semiannual $54,787.62

42,800 (1 + 0.05 / 2)^5x2 = X = 54,787.62

Monthly $54,927.75

42,800 (1 + 0.05 / 12)^5x12 = X = 54,927.75

Daily $54,955.35

42,800 (1 + 0.05 / 365)^5x365 = X = 54,955.35

Continuously $54,955.35

42,800 (1 + 0.05 / 365)^5x365 = X = 54,955.35