Use these images to answer the following question.

Refer to the tables above (annual interestand semi-annual interest). How much more interest do you receive by compounding semiannually? (Do not include the $ sign in your answer.)

Interest Compounded Annually Year Beginning Balance 8% Interest Ending Balance $1,000.00 $80.00 $1,080 2 $1,080.00 ???? $1,166.40 3 ???? $93.61 $1,259.71 4 $1,259.71 $100.78 ???? 5 $1,360.49 ???? ???? Total Interest ???? What is the interest paid in the 2nd year? $86.40 What is the beginning balance in the 3rd year? $1,166.40 What is the ending balance in the 4th year? $1,360.49 v What is the interest paid in the 5th year? $108.84 What is the ending balance in the 5th year $1,469.33 What is the total amount of interest paid throughout the five years? $469.33Semi-annual Compounding Interest Beginning First Second Year Half Sub Total Total Ending Balance Half Interest Interest Interest Balance 1 $1,000.00 $40.00 $1,040.00 $41.60 ???? $1,081.60 2 $1,081.60 $43.26 ???? $44.99 $88.26 $1,169.86 3 $1,169.86 ???? $1,216.65 $48.67 ???? $1,265.32 4 ???? $50.61 $1,315.93 $52.64 ? ? ? ? ???? 5 $1,368.57 ???? $1,423.31 $56.93 ???? ???? Total Interest ???? What is the total amount of interest paid in the 1st year? $81.60 What is the sub total (Beginning Balance + First Half Interest) in the $1,124.86 2nd year? What is the total amount of interest paid in the first half of the 3rd year? $46.79 What is the total amount of interest paid in the 3rd year? $95.46 What is the beginning balance for the 4th year? $1,265.32Semi-annual Compounding Interest Year Beginning First Second Half Total Ending Balance Sub Total Half Interest Interest Interest Balance 1 $1,000.00 $40.00 $1,040.00 $41.60 ???? $1,081.60 2 $1,081.60 $43.26 ???? $44.99 $88.26 $1,169.86 3 $1,169.86 ???? $1,216.65 $48.67 ???? $1,265.32 4 ??? ? $50.61 $1,315.93 $52.64 ???? ???? 5 $1,368.57 ???? $1,423.31 $56.93 ???? ???? Total Interest ???? What is the total amount of interest paid the 4th years? $103.25 What is the ending balance of the 4th v year? $1,368.57 What is the total interest paid the first half of the 5th year? $54.74 v What is the total amount of interest paid during the 5th year $111.68 What is the ending balance the 5th $1,480.24 year