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please use cell references. 1. You place $40,000 in an investment account today that earns 5% compounded semiannually. How much will be in the account
please use cell references.
1. You place $40,000 in an investment account today that earns 5% compounded semiannually. How much will be in the account after (a) three years, (b) four years, or (c) five years? Formulas should include the =FV function and return a POSITIVE value. Initial investment Additional amount invested at the end of each semiannual period Interest rate Compounded semiannually Account balance at the end of: a) Year 3 b) Year 4 c) Year 5 2. If, in addition to the $40,000 original investment, you invest an additional $1,000 at the end of semiannual period, how much will be in the account after (a) three years, (b) four years, or (c) five years? Formulas should include the = FV function and return a POSITIVE valueStep by Step Solution
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