d effective rate (APY) of interest for I year. 2012 S) Interest rate: 12% Effective rate (APY): Using Table 12.2, calculate what $700 would grow to at 6 % per year compounded daily for 7 years. LU 12-13) 12-6. LU 12-2(2) PV of amount deslred at end of period Complete the following using present value Table 12.3 or the present value table in the Business Math Handbook. Amount desired atLength end of period of tlme On PV Table 12.3 py Perlod Ratefactor usedusedused RateCompounded 3% Semiannually 12-7. $6,000 eXcel 8 years Monthly 12-8. $8,900 excel 4 years 6% 12-9. $17,600 7 12% Quarterly 315