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Morris is using the TVM Solver on his graphing calculator as shown below to
determine how much he has to invest now in a savings account earning
compound interest to have $13,500 in a certain number of years.
FH13500
PMTEENK BEGIN
According to what Morris has entered into the TVM Solver, with what
frequency will the interest in the savings account be compounded?
O
A. Annually
O
B. Quarterly
O
C. Monthly
O
D. Semiannually

Respuesta :

Answer:

Semiannually

Step-by-step explanation:

AppExx Certified

The answer is Option D, Semiannually.

In savings accounts, interest can be compounded, either daily, monthly, quarterly, semiannually or annually and you earn interest on the interest earned up to that point. The more frequently interest is added to your balance, the faster your savings will grow.

Semiannual is an adjective that describes something that is paid, reported, published, or otherwise takes place twice each year, typically once every six months.

How to determine how much he has to invest now in a savings account earning compound interest to have $13,500 in a certain number of years.

Given: He has to invest now in a savings account earning compound interest to have $13,500 in a certain number of years.

FH13500

PMTEENK BEGIN

Morris has entered into the TVM Solver, with a Semiannual

frequency will the interest in the savings account be compounded.

Learn more about frequencies on: https://brainly.com/question/13344252

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