Transcribed image text: This question has several parts that must be completed sequentially. If you skip a part of the question, you will not receive any points for the speed part, and you will not be able to come back to the skyped part Tutorial Exercise Brian Invests $16.500, at 5% interest, compounded semiannually for 2 years. Manually calculate the compound amount in $) for his investment. Step 1 The compound amount, also called the future value, is the total amount of the principal and accumulated interest at the end of an investment. Compound interest is interest that is applied a number of times during the term of an investment with compound Interest, the interest earned for each period is reinvested to the previous principal before the next calculation. The previous principal plus interest then becomes the new principal that will earn interest for the next period Recall the formula to calculate simple interest I below where the principal P is the original amount of the investment, the interest rate Ris written as a decimal, and the time is in years PRT Compounding semiannually means that interest will be calculated twice per year. Therefore, the amount of time in years that will be used to calculate interest for each compounding perioa will be X years The total number of compounding periods will be the number of years multiplied by the number of periods per year. This investment carns interest for 2 years total number of compounding periods - number of years of investment number of compounding periods per year - 2x