Different compounding frequencies

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Marissa has decided to make a $300 monthly investment in a retirement fund. The three funds in which she is interested all pay 3.00% NAR but with different compounding frequencies.. How much will she accumulate in 20 years for each of the three investment alternatives? Show calculations/formulas in Excel.

a. Interest of 3.00% NAR compounded quarterly (4 times per year)

b. Interest of 3.00% NAR compounded monthly (12 times per year)

c. Interest of 3.00% NAR compounded annually (1 time per year)

Reference no: EM13809147

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