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Lee Holmes deposited $16,400 in a new savings account at 11% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $41,400
Lee Holmes deposited $16,400 in a new savings account at 11% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $41,400 at 11% interest compounded semiannually. At the end of 6 years, what is the balance in Lees account? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.) please show how to do it in steps!
I can not figure this out!
the answer is NOT $ 88,263.89 or rounded off of that.
Period 0.5% 1.0% 1.5% 2.0% 1.0050 1.0100 1.0150 1.0200 1.0100 1.0201 1.0302 1.0404 | 1.0151 1.0303 1.0457 1.0612 1.0202 1.0406 1.0614 1.0824 1.0253 1.0510 1.0773 1.1041 1.0304 1.0615 1.0934 1.1262 1.0355 1.0721 1.1098 1.1487 1.0407 1.0829 1.1265 1.1717 1.0459 1.0937 1.1434 1.1951 1.0511 1.1046 1.1605 1.2190 1.0564 1.11571.1779 1.2434 1.06171.1268 1.1956 1.2682 1.0670 1.1381 1.2136 1.2936 1.0723 1.1495 1.2318 1.3195 1.0777 1.1610 1.2502 1.3459 1.0831 1.1726 1.2690 1.3728 1.0885 1.18431.2880 1.4002 1.0939 1.1961 1.3073 1.4282 1.0994 1.2081 1.3270 1.4568 1.1049 1.22021.3469 1.4859 1.1104 1.2324 1.3671 1.5157 1.1160 1.2447 1.3876 1.5460 1.1216 1.2572 1.4084 1.5769 1.1272 1.2697 1.4295 1.6084 1.1328 1.2824 1.4509 1.6406 1.1385 1.2953 1.4727 1.6734 1.1442 1.3082 1.4948 1.7069 1.1499 1.3213 1.5172 1.7410 1.1556 1.3345 1.5400 1.7758 1.1614 1.3478 1.5631 1.8114 1.1672 1.36131.5865 1.8476 1.1730 1.3749 1.6103 1.8845 1.1789 1.3887 1.6345 1.9222 1.1848 1.4026 1.6590 1.9607 1.1907 1.4166 1.6839 1.9999 1.1967 1.4308 1.7091 2.0399 1.2027 1.4451 1.7348 2.0807 1.2087 1.4595 1.7608 2.1223 1.2147 1.4741 1.7872 2.1647 1.2208 1.4889 1.8140 2.2080 1.2269 1.5038 1.8412 2.2522 1.2330 1.5188 1.8688 2.2972 1.2392 1.5340 1.8969 2.3432 1.2454 1.5493 1.9253 2.3901 1.2516 1.5648 1.9542 2.4379 1.2579 1.5805 1.9835 2.4866 1.2642 1.5963 2.0133 2.5363 1.2705 1.61222.0435 2.5871 1.2768 1.6283 2.0741 2.6388 50 | 1.2832 1.6446 2.1052 2.6916 Future value interest factor of $1 per period at i% for n periods, FVIF(i,n). 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% | 6.0% 6.5% | 7.0% | 7.5% / 8.0% 1.0250 1.0300 1.0350 1.0400 1.0450 1.0500 1.0550 1.0600 1.0650 1.0700 1.0750 1.0800 1.0506 1.0609 1.0712 1.0816 1.0920 1.1025 1.1130 1.1236 1.1342 1.1449 1.1556 1.1664 1.0769 1.0927 1.1087 1.1249 1.1412 1.1576 1.1742 1.1910 1.2079 1.2250 1.2423 1.2597 1.1038 1.1255 1.1475 1.1699 1.1925 1.2155 1.2388 1.2625 1.2865 1.3108 1.3355 1.3605 1.1314 1.1593 1.1877 1.2167 1.2462 1.2763 1.3070 1.3382 1.4026 1.4356 1.4693 1.1597 1.1941 1.2293 1.2653 1.3023 1.3401 1.3788 1.4185 1.4591 1.5007 1.5433 1.5869 1.1887 1.2299 1.2723 1.3159 1.3609 1.4071 1.4071 1.4547 1.5036 1.5540 1.6058 1.6590 1.7138 1.2184 1.2668 1.3168 1.3686 1.4221 1.4775 1.5347 1.5938 1.6550 1.7182 1.7835 1.8509 1.2489 1.3048 1.3629 1.4233 1.4861 1.5513 1.6191 1.6895 1.7626 1.8385 1.9172 1.9990 1.2801 1.3439 1.4106 1.4802 1.5530 1.6289 1.7081 1.7908 1.8771 1.9672 2.0610 2.1589 1.3121 1.3842 1.4600 1.5395 1.6229 1.7103 1.8021 1.8983 1.9992 2.1049 2.2156 2.3316 1.3449 1.4258 1.5111 1.6010 1.6959 1.7959 1.9012 2.0122 2.1291 2.2522 2.3818 2.5182 1.3785 1.4685 1.5640 1.6651 1.7722 1.8856 2.0058 2.1329 2.2675 2.4098 2.5604 2.7196 1.4130 1.5126 1.6187 1.7317 1.8519 1.9799 2.1161 2.2609 2.4149 2.5785 2.7524 2.9372 1.4483 1.5580 1.6753 1.8009 1.9353 2.0789 2.2325 2.3966 2.5718 2.7590 2.9589 3.1722 1.4845 1.6047 1.7340 1.8730 2.0224 2.1829 2.3553 2.5404 2.7390 2.9522 3.1808 3.4259 1.5216 1.6528 1.7947 | 1.9479 2.1134 2.2920 2.4848 2.6928 2.9170 3.1588 3.4194 3.7000 1.5597 1.7024 1.8575 2.0258 2.2085 2.4066 2.6215 2.8543 3.1067 3.3799 3.6758 3.9960 1.5987 1.7535 1.9225 2.1068 2.3079 2.5270 2.7656 3.0256 3.3086 3.6165 3.9515 4.3157 1.6386 1.8061 1.9898 2.1911 2.4117 2.6533 2.9178 3.2071 3.5236 3.8697 4.2479 4.6610 1.6796 1.8603 2.0594 2.2788 2.5202 2.7860 3.0782 3.3996 3.7527 4.1406 4.5664 5.0338 1.7216 1.9161 2.1315 2.3699 2.6337 2.9253 3.2475 3.6035 3.9966 4.4304 4.9089 5.4365 1.7646 1.9736 2.2061 2.4647 2.7522 3.0715 3.4262 3.8197 4.2564 4.7405 5.2771 5.8715 1.8087 2.0328 2.2833 2.5633 2.8760 3.2251 3.6146 4.0489 4.5331 5.0724 5.6729 6.3412 1.8539 2.0938 2.3632 2.6658 3.0054 3.3864 3.8134 4.2919 4.8277 5.4274 6.0983 6.8485 1.9003 2.1566 2.4460 2.7725 3.1407 3.5557 4.0231 4.5494 5.1415 5.8074 6.5557 7.3964 1.9478 2.2213 2.5316 2.8834 3.2820 3.7335 4.2444 4.8223 5.4757 6.2139 7.0474 7.9881 1.9965 2.2879 2.6202 2.9987 3.4297 3.9201 4.4778 5.1117 5.8316 6.6488 7.5759 8.6271 2.0464 2.3566 2.7119 3.1187 3.5840 4.1161 4.7241 5.4184 6.2107 7.1143 8.1441 9.3173 2.0976 2.4273 2.8068 3.2434 3.7453 4.3219 4.9840 5.7435 6.6144 7.6123 8.7550 10.0627 2.1500 2.5001 | 2.9050 3.3731 3.9139 4.5380 5.2581 6.0881 7.0443 8.1451 9.4116 10.8677 2.2038 2.5751 3.0067 3.5081 4.0900 4.7649 5.5473 6.4534 7.5022 8.7153 10.1174 11.7371 2.2589 2.6523 3.1119 3.6484 5.0032 5.8524 6.8406 7.9898 9.3253 10.8763 12.6760 2.3153 2.7319 | 3.2209 3.7943 4.4664 5.2533 6.1742 7.2510 8.5092 9.9781 11.6920 13.6901 2.3732 2.8139 | 3.3336 3.9461 4.6673 5.5160 6.5138 7.6861 9.0623 10.6766 12.5689 14.7853 2.4325 2.8983 3.4503 4.1039 4.8774 5.7918 6.8721 8.1473 9.6513 11.4239 13.5115 15.9682 2.4933 2.9852 3.5710 4.2681 5.0969 6.0814 7.2501 8.6361 10.2786 12.2236 14.5249 17.2456 2.5557 3.6960 4.4388 6.3855 7.6488 9.1543 10.9467 13.0793 15.6143 18.6253 2.6196 3.1670 3.8254 4.6164 5.5659 6.7048 8.0695 9.7035 11.6583 13.9948 16.7853 20.1153 2.6851 3.2620 3.9593 4.80105.8164 7.0400 8.5133 10.2857 12.4161 14.9745 18.0442 21.7245 2.7522 3.3599 4.0978 4.9931 6.0781 7.3920 8.9815 10.9029 13.2231 16.0227 19.3976 23.4625 2.8210 3.4607 4.2413 5.1928 6.3516 7.7616 9.4755 11.5570 14.0826 17.1443 20.8524 25.3395 2.8915 3.5645 4.3897 5.40056.6374 8.1497 9.9967 12.2505 14.9980 18.3444 22.4163 27.3666 2.9638 3.6715 4.5433 5.6165 6.9361 8.5572 10.5465 12.9855 15.9729 19.6285 24.0975 29.5560 3.0379 3.7816 4.7024 5.8412 7.2482 8.9850 11.1266 13.7646 17.0111 21.0025 25.9048 31.9204 3.1139 3.8950 4.8669 6.0748 7.5744 9.4343 11.7385 14.5905 18.1168 22.4726 27.8477 34.4741 3.1917 4.0119 5.0373 6.3178 7.9153 9.9060 12.3841 15.4659 19.2944 24.0457 29.9363 37.2320 3.2715 4.1323 5.2136 | 6.5705 8.2715 10.4013 13.0653 16.3939 20.5485 | 25.7289 32.1815 40.2106 3.3533 4.2562 5.39616.8333 8.6437 10.9213 13.7838 17.3775 21.8842 27.5299 34.5951 43.4274 3.4371 4.3839 5.5849 7.1067 9.0326 11.4674 14.5420 18.4202 23.3067 29.4570 37.1897 46.9016 8.5% / 1.0850 1.1772 1.2773 1.3859 1.5037 1.6315 1.7701 1.9206 2.0839 2.2610 2.4532 2.6617 2.8879 3.1334 3.3997 3.6887 4.0023 4.3425 4.7116 5.1120 5.5466 6.0180 6.5296 7.0846 7.6868 8.3401 9.0490 9.8182 10.6528 11.5583 12.5407 13.6067 14.7632 16.0181 17.3796 18.8569 20.4597 22.1988 24.0857 26.1330 28.3543 30.7644 33.3794 36.2167 39.2951 42.6352 46.2592 50.1912 54.4574 59.0863 9.0% 1.0900 1.1881 1.2950 1.4116 1.5386 1.6771 1.8280 1.9926 2.1719 2.3674 2.5804 2.8127 3.0658 3.3417 3.6425 3.9703 4.3276 4.7171 5.1417 5.6044 6.1088 6.6586 7.2579 7.9111 8.6231 9.3992 10.2451 11.1671 12.1722 13.2677 14.4618 15.7633 17.1820 18.7284 20.4140 22.2512 24.2538 26.4367 28.8160 31.4094 34.2363 37.3175 40.6761 44.3370 48.3273 52.6767 57.4176 62.5852 68.2179 74.3575 9.5% / 1.0950 1.1990 1.3129 1.4377 1.5742 1.7238 1.8876 2.0669 2.2632 2.4782 2.7137 2.9715 3.2537 3.5629 3.9013 4.2719 4.6778 5.1222 5.6088 6.1416 6.7251 7.3639 8.0635 8.8296 9.6684 10.5869 11.5926 12.6939 13.8998 15.2203 16.6662 18.2495 19.9832 21.8816 23.9604 26.2366 28.7291 31.4584 34.4469 37.7194 41.3027 45.2265 49.5230 54.2277 59.3793 65.0204 71.1973 77.9611 85.3674 93.4773 10.0% 1.1000 1.2100 1.3310 1.4641 1.6105 1.7716 1.9487 2.1436 2.3579 2.5937 2.8531 3.1384 3.4523 3.7975 4.1772 4.5950 5.0545 5.5599 6.1159 6.7275 7.4002 8.1403 8.9543 9.8497 10.8347 11.9182 13.1100 14.4210 15.8631 17.4494 19.1943 21.1138 23.2252 25.5477 28.1024 30.9127 34.0039 37.4043 41.1448 45.2593 49.7852 54.7637 60.2401 66.2641 72.8905 80.1795 88.1975 97.0172 106.7190 117.3909Step by Step Solution
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