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View Policies Show Attempt History Current Attempt in Progress Your answer is incorrect. Maria Medavoy will invest $6,740 a year for 23 years in a fund that will earn 5% annual interest. Click here to view factor tables If the first payment into the fund occurs today, what amount will be in the fund in 23 years? If the first payment occurs at year-end, what amount will be in the fund in 23 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, eg. 458,581.) First payment today $ First payment at year-end $ e Textbook and Media Save for Later Attempts: 1 of 5 used Submit Answer View Policies Current Attempt in Progress Michael Spear invested $10,000 today in a fund that earns 8% compounded annually. Click here to view factor tables To what amount will the investment grow in 2 years? To what amount would the investment grow in 2 years if the fund earns 8% annual interest compounded semiannually? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 458,581.) Investment at 8% annual interest $ Investment at 8% annual interest, compounded semiannually eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer Your answer is partially correct. For each of the following cases, indicate (a) to what rate columns, and (b) to what number of periods you would refer in looking up the interest factor. 1. In a future value of 1 table: Annual Rate Number of Years Invested Compounded (a) Rate of Interest (b) Number of Periods a. 11% 9 Annually % 9 b. 12% 6 Quarterly % 24 C. 12% 19 Semiannually % 38 2. In a present value of an annuity of 1 table: (Round answers to 1 decimal place, e.g. 458,58.1.) Annual Rate Number of Years Invested Number of Rents Involved Frequency of Rents (a) Rate of Interest (b) Number of Periods a. 9% 28 28 Annually 9 % b. 10% 14 28 Semiannually % C. 12% 6 24 Quarterly % e Textbook and Media