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An amount of $5000 is invested at 10% per annum, compounded six-monthly. Compounded values of $1 Interest rate per period Period 1% 5% 10% 15%
An amount of $5000 is invested at 10% per annum, compounded six-monthly. Compounded values of $1 Interest rate per period Period 1% 5% 10% 15% 20% 1 1.010 1.050 1.100 1.150 1.200 2 1.020 1.103 1.210 1.323 1.440 3 1.030 1.158 1.331 1.521 1.728 4 1.041 1.216 1.464 1.750 2.074 5 1.051 1.276 1.611 2.011 2.488 6 1.062 1.340 1.772 2.313 2.986 Use the table to find the value of this investment at the end of three years. (2 marks)
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