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Find the value of investment after the given number of years

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An investment of $4000 is deposited into an account in which interest is compounded monthly. Complete the table by filling in the amounts to which the investment grows at the indicated interest rates. (Round your answers to the nearest cent.)

t = 5 yr

If $2000 is invested at an interest rate of 2.5% per year, compounded daily, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)

(a) 2 years

(b) 3 years

(c) 6 years

Reference no: EM131063676

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