Module 7: Simple Interest I=PrtS=P(1+rt)P=1+rtsI=SP I: Amount of Interest (\$) S: Future Value (\$) P: Present Value (\$) r : Nominal rate of interest (%) Module 8: Compound Interest FV=PV(1+i)nPV=FV(1+i)norPV=(1+i)nFVi=mjn=mtCI=FVPV FV: Future Value (\$) PV : Present Value (\$) j : Nominal interest rate (\%) m : Frequency of compounding periods per year i : Periodic interest rate (%) t : Time (years) n : Total number of compounding period in the term CI: Compound Interest amount (\$) Arizona Publishing Company borrows $52,500 from a bank at 5.96% compounded semi-annually for 4 years and 9 months. a) How much will the accumulated value of the loan be at the end of the term? S b) How much interest will be charged on the loan