12

Find the future value of an investment of $3,200 made today for the following rates and periods:

a.6.25 percent compounded semiannually for 12 years.

Future value$

b.7.63 percent compounded quarterly for 6 years.

Future value$

c.8.9 percent compounded monthly for 10 years.

Future value$

d.10 percent compounded daily for 3 years.

Future value$

e.8 percent compounded continuously for 2 years.

Future value$