5. Manually calculate the compound interest on an investment of $6,500 at 12% interest, compounded semiannually, for 18 months.

$1,170.00. $1,204.45 $1,241.60. $7,741.63

15. Inez wants to have $18,750 in 6 years. Use the present value formula to calculate how much Inez should invest now at 3% interest, compounded quarterly in order to reach her goal.

$15,375.00$. 15,664.83 $15,671.84. $15,702.83