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$6,000 was invested at 1.2% compounded semi-annually for two years Find the future value and the interest earned a) What is the period interest rate?
$6,000 was invested at 1.2% compounded semi-annually for two years Find the future value and the interest earned a) What is the period interest rate? (Round to 5 decimals places as needed) b) What is the total number of compounding periods? c) What is the End-of-Period Balance for each period? A P(1+i) where A End of Period Balance and P=Prot Period Balance Round each answer to 3 decimal places Period 1 Balance Period 2 Balance Period 3 Balance Period 4 Balance d) Use Compound Interest Formula (Business Math Version); FV=P(1 The future value is Round to the nearest cent as needed) e) Calculate the compound interest earned The compound interest is (Round to the nearest cont as needed)
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