38 and 40

Question 38 0 2 Find the compound amount for the certificate of deposit. Assume daily compounding using the following table. Round to the nearest cent. Compound Interest for Time Deposit Accounts Compounded Daily Number of Years 1 2 3 4 5 10 1% 2% 3% 4% 5% 1.01005003 1.02020078 1.03045326 1.04080849 1.05126750 1.02020106 1.04080963 1.06183393 1.08328232 1.10516335 1.03045411 1.06183480 1.09417024 1.12748944 1.16182231 1.04081020 1.08328469 1.12749129 1.17350058 1.22138603 1.05127038 1.10516789 1.16182708 1.22138937 1.28400343 1.10516940 1.22139607 1.34984217 1.49179200 1.64866481 Amount: $1100 Rate: 3% compounded daily Years: 3 Amount Needed Time (Years) Interest Compounded $20,000 11 6% semiannually 92593 85734 79103 73503 68058 63017 58149 54027 S0025 46319 59190 #40 & 41: Find the present value. Round to the nearest cent. Present Value of a Dollar Table Interest Rate per Period Period 2% 4% 5% 6% 1 99010 98522 98039 97561 97087 96154 95238 94340 98030 97066 946117 95181 94260 92456 90703 82000 3 97059 95632 94232 92800 91514 8200 86154 4 83962 SS 94218 92.385 90595 2849 R$40 82270 79200 5 95147 92.26 90573 883RS 6261 82193 78353 .74726 6 .94205 91454 88797 86230 83748 79031 74622 7005 7 93272 90103 87056 84127 81309 .75992 71068 6506 8 92348 88771 23349 82075 78941 .72069 07684 .62741 9 91434 87459 83676 80073 76642 20259 64-461 10 90529 86167 82035 78120 74009 .67556 61391 S1819 8-1893 80126 76214 72242 64958 53679 12 88745 83639 76549 .74356 70138 62460 55684 13 87866 82403 77303 .72542 6095 60157 52032 14 86996 81185 75788 70773 66112 57748 Sason 44200 15 86135 .79985 74301 .69047 .64186 55525 48102 16 41727 85282 78803 72845 .67362 62317 53391 45811 39365 17 S4438 77639 71416 65720 0502 51337 43630 3716 18 1602 76491 70016 .64117 58739 49363 41552 35044 19 R2774 75361 62553 57029 47464 39573 32051 20 81954 -74247 .67297 61027 55368 45639 37689 31180 21 81143 .73150 65978 598.39 53755 43883 358994 29416 22 10340 .72069 64694 52189 42196 34185 27751 23 79514 71004 .63416 40573 32557 26180 78757 35288 49193 39012 31007 2. 25 77977 60953 53939 37512 26 29330 23300 77205 67900 59758 46.369 w 27 7640 28124 21981 51360 45019 28 26785 20737 65910 57437 4320 33448 25509 19363 29 74934 32005 24295 18156 30 552017 47674 41199 30832 23138 17411 39711 1770 34036 31524 29189 27027 2005 2.3171 21455 19856 118794 17002 15770 14602 135.00 12519 11591 10733 09938 74192