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For each of the following cases, find the future value at the end of the deposit period at the given nominal interest rate. Number of

For each of the following cases, find the future value at the end of the deposit period at the given nominal interest rate.

Number of

Compounding

Periods in

the Year (m)

Initial

Deposit ($)

Nominal

Interest

Rate (%)

Deposit Periods (Yrs)

Future

Value ($)

1

400

16

6

2

200

9

21

12

500

7

3

Number of

Compounding

Periods in

the Year (m)

Initial

Deposit ($)

Nominal

Interest

Rate (%)

Deposit Periods (Yrs)

Future

Value ($)

1

400

16

6

(Round to the nearest cent.)

2

200

9

21

(Round to the nearest cent.)

12

500

7

3

(Round to the nearest cent.)

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