write my assignment 2257

Problem 1: Suppose you invest $5000.00 at an interest rate of 2.8% per year.

Part a:

What is the balance after 2 years if the funds are compounded quarterly? Report your answer in a complete sentence with appropriate units and round your answer to the nearest cent.

Part b:

What is the balance after 2 years if the funds are compounded continuously? Report your answer in a complete sentence with appropriate units and round your answer to the nearest cent.

Part c:

What is the balance after 20 years if the funds are compounded continuously? Report your answer in a complete sentence with appropriate units and round your answer to the nearest cent.