5. Future value: Your bank pays 5 percent annual interest compounded semiannually on your savings account. You don't expect to add to the current balance of over the next four years. How much money can you expect to have at the end of this period?

6. Future value: Your birthday is next week and instead of other presents, your parents promised to give you in cash. Since you have a part-time job and, thus, don't need the cash immediately, you decide to invest the money in a bank CD that pays 5.2 percent, compounded quarterly, for the next two years. How much money can you expect to earn in this period of time?