Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Find the future value and compound interest on $4,000 at 5% compounded semiannually for two years. Use the Future Value or Compound Amount of $1.00
Find the future value and compound interest on $4,000 at 5% compounded semiannually for two years. Use the Future Value or Compound Amount of $1.00 Table or the future value and compound interest formula. e Future Value or Compound Amount of $1.00. Future value = $(Round to the nearest cent as needed.) - X Data Table 1.5% Table Future Value or Compound Amount of $1.00 Rate per period Periods 1% 2% 2.5% 3% 4% 5% 6% 8% 1 1.01000 1.01500 1.02000 1.02500 1.03000 1.04000 1.05000 1.06000 1.08000 2 1.02010 1.03023 1.04040 1.05063 1.06090 1.08160 1.10250 1.12360 1.16640 3 1.03030 1.04568 1.06121 1.07689 1.09273 1.12486 1.15763 1.19102 1.25971 4 1.04060 1.06136 1.08243 1.10381 1.12551 1.16986 1.21551 1.26248 1.36049 5 1.05101 1.07728 1.10408 1.13141 1.15927 1.21665 1.27628 1.33823 1.46933 Table shows future value (FV) of $1.00 compounded for N periods at Rrate per period. Table values can be generated using the formula FV = $1(1+r). Print Print Done Enter your answer in the answer box and then click Check
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started