Betty DeRose is going to deposit $4,000 into a bank account at the beginning of every six months for the next 4 years. Assume the bank account will earn 20% interest compounded semi-annually. Calculate the amount of interest Betty will earn over the four-year period. Future Value of an Annuity Periods 3 4 5 6 7 8 9 10 12 15 16 17 18 19 20 21 22 23 24 25 60 Rate of interest per period in percent 1% 3% 5% 6% 8% 9% 10% 12% 15% 20% 3.015 3.090 3.152 3.183 3.246 3.278 3.310 3374 3.472 3.640 4.030 4.183 4.310 4.374 4.506 4.573 4.641 4.779 4.993 5.368 5.050 5.309 5.525 5.637 5.867 5.985 6.105 6.353 6.742 7.441 6.075 6.468 6.801 6.975 7.336 7523 7.715 8.115 8.753 9.929 7.105 7.662 8.142 8.393 8.925 9.2009.487 10.089 11.066 12.915 8.14 8.892 9.549 9.897 10.636 11.028 11435 12.299 13.726 16.499 9.1821 10.159 11.026 11.491 12.487 13.021 13.579. 14.775 16.785 20.798 10.228 11.464 12.580 13.180 14.486 15.193 15.937 17.549 20.303 25.958 12.335 14.192 15.917 16.870 18.977 20.140 21.384 24.133 29.001 39.580 15.536 18.599 21578 23.276 27.152 29.360 31.772 37.280 47.580 72.035 16.614 20.156 23.657 25.672 30.324 33.003 35.949 42.753 55.717 87 442 17.697 21.761 25.840 28.218 33.750 36.973 40.544 48.883 65.075 105.931 18.785 23.414 28.150 30.905 37.450 41.301 45.599 55.749 75.836 128.117 19.879 25.116 30.539 33.759 41.446 46.018 51.159 63.439 88.211 154.740 20.979 26.870 33.065 36.785 45.762 51.160 57.275 72.052 102.444 186.688 22.084 28.676 35.719 39.992 50.422 56.764 64.002 81.698 118.810 225.026 23.194 30.536 38.505 43.392 55 456 62.873 71.402 92.502 137.632 271.031 24310 32.452 41.430 46.995 60.893 69.531 79.543 104,603 159.276 326.237 25 432 34.426 44.502 50.815 66.764 76.789 88.497 118.155 184.168 392.484 26.559 36.459 47.727 54.864 73.105 84.700 98.347 133.334 212.793 471.981 69.770 163.053 353.584 533.128 1253.21 1944.79 3034.82 7471.64 29219.9 281732 Present Value of an Annuity Periods 3 4 5 6 7 8 9 10 12 15 16 17 18 19 4% 2.970 3.950 4.925 5.896 6.862 7.823 8.779 9.730 11618 14.416 15.339 16.258 17.172 18.082 3% 2828 3.717 4579 SA17 6.230 7,019 7.786 8.530 9.954 11.937 12.561 13.166 13.753 14,323 5% 2.723 3.546 4.329 5.076 5.786 6.463 7.108 7.721 8.863 10.379 10.837 11.274 11.689 12.085 Rate of interest per period in percent 6% 89 9% 10% 2.673 2.577 2.531 2.487 3.465 3.312 3.239 3.170 4.212 3.992 3.889 3.790 4.917 4.623 4485 4.355 5.582 5.206 5.033 4.868 6.209 5.746 5.534 5.334 6.801 6.247 5.995 5.759 7.360 6.710 6.417 6.145 8.383 7.536 7.160 6.813 9.712 8.559 8.060 7.606 10.105 8.851 8312 7.823 10477 9.121 8.543 8.021 10.827 9.371 8.755 8.201 11.158 9.603 8.950 8364 12% 2.402 3.037 3.604 4.111 4.563 4.967 5.328 5.650 6.194 6.810 6.974 7.119 7.249 7365 15% 2.283 2.855 3.352 3.784 4.160 4.487 4.771 5.018 5.420 5.847 5.954 6.047 6.128 6.198 20% 2.106 2.588 2.990 3.325 3.604 3.837 4.031 4.193 4.439 4.675 4.729 4.774 4.812 4.843
