Question
If you can please show work. I have been having trouble with this problem and cant get it right. I think i'm getting slipped up
If you can please show work. I have been having trouble with this problem and cant get it right. I think i'm getting slipped up about how it is compounded
1. A. What is the future value if $8000 is invested for 12 years at 8% compounded semiannually? (Round your answer to the nearest cent.) I got the answer of 12808.26 and was incorrect I think the semiannually messed me up
B. What interest will be earned if $6100 is invested for 3 years at 10% compounded monthly? (Round your answer to the nearest cent.) The monthly part of this is messing up my attempt to solve it
C. What lump sum do parents need to deposit in an account earning 12%, compounded monthly, so that it will grow to $100,000 for their son's college fund in 12 years? (Round your answer to the nearest cent.)
D. What present value P amounts to $250,000 if it is invested at 7%, compounded semiannually, for 11 years? (Round your answer to the nearest cent.)
I got 532500 and was incorrect
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