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An investment of $15,000 was growing at 6.75% compounded semi-annually. a. Calculate the maturity value of this investment at the end of year 1. b.

An investment of $15,000 was growing at 6.75% compounded semi-annually.

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

b. If the interest rate changed to 7% compounded monthly at the end of year 1, calculate the maturity value of this investment at the end of year 4.

c. Calculate the amount of interest earned from this investment during the 4-year period.

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