P5-6 (similar to) 5 of 12 (10 complete) Previous Question (Related to Checkpoint 5.2) (Compound interest with non-annual periods) You just received a bonus of $1,000 a. Calculate the future value of $1,000, given that it will be held in the bank for 10 years and earn an annual interest rate of 8 percent. b. Recalculate part (a) using a compounding period that is (1) semiannual and (2) bimonthly c. Recalculate parts (a) and (b) using an annual interest rate of 16 percent d. Recalculate part (a) using a time horizon of 20 years at an annual interest rate of 8 percent e. What conclusions can you draw when you compare the answers in parts (c) and (d) with the answers in parts (a) and (b)? a. What is the future value of $1,000 in a bank account for 10 years at an annual interest rate of 8 percent? $2158.9 (Round to the nearest cent.) b. What is the future value of $1,000 in a bank account for 10 years at & percent compounded semiannually $2.131 12 (Round to the nearest cent) What is the future value of $1,000 in a bank account for 10 years at 8 percent compounded bimonthly? S (Round to the nearest cent) Enter your answer in the answer box and then click Check Answer 5 parts remaining Type here to search 12 0 13 D 90 15 16 09 2 3 % 5 HW Sca Clear Al Chuck Ane 9 hp 17 020 18 19 D & 37 R @ . 8 () 9 19 112 D O boc