An investment of $12,000 is growing at 4% compounded semi-annually.

a. Calculate the future value of this investment at the end of year 1.

$

Round to the nearest cent

b. If the interest rate changed to 5% compounded monthly at the end of year 1, calculate the future value of this investment at the end of year 3.

$

Round to the nearest cent

c. Calculate the total amount of interest earned from this investment during the 3-year period.

$

Round to the nearest cent