5. [0/0.45 Points] DETAILS PREVIOUS ANSWERS TANAPCALC10 5.3.007. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Find the present value of $70,000 due in 5 years at the given rate of interest. (Round your answers to the nearest cent.) (a) 9%/year compounded semiannually $ 45,928.71 (b) 9%/year compounded quarterly $ 45,614.02 X Need Help? Read It Submit Answer 6. [0/0.45 Points] DETAILS PREVIOUS ANSWERS TANAPCALC10 5.3.010. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER An amount of $23,000 is deposited in a bank that pays interest at the rate of 3%/year, compounded annually. What is the total amount on deposit at the end of 7 years, assuming there are no deposits or withdrawals during those 7 years? (Round your answer to the nearest cent.) $ 28, 155.01 X What is the interest earned during that period of time? (Round your answer to the nearest cent.) $ 5, 155.01 X Need Help? Read It Watch It 2:58 PM