Future Value Question $5$

Today is your $20$th birthday and your bank account balance is $$25,000.$ Your account is earning $6\mathrm{.}5\%$ interest compounded semiannually. How much will be in the account on your $50$th birthday?

Question $6$

Today is your $21$st birthday and your bank account balance is $$25,000.$ Your account

is earning $6\mathrm{.}5\%$ interest compounded quarterly. How much will be in the account onyour $50$th birthday?

Question $7$

What is the future value of $$500$ invested at $8\mathrm{.}94\%$ compounded quarterly for $12\mathrm{.}5$years $($rounded to nearest $$1)?$

Question $8$

If you put $$10,000$ in an investment that returns $11$ percent compounded monthlywhat would you have after $10$ years $($rounded to nearest $$1).$