Question 12

Find the future value of an investment of $3,000 made today for the following rates and periods: (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your answers to the nearest penny.) Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values youve been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) a. 6.25 percent compounded semiannually for 12 years.

Future value

$

b. 7.63 percent compounded quarterly for 6 years.

Future value

$

c. 8.9 percent compounded monthly for 10 years.

Future value

$

d. 10 percent compounded daily for 3 years.

Future value

$

e. 8 percent compounded continuously for 2 years.

Future value

$

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