You just received a bonus of $5,000.

a. Calculate the future value of $5,000, given that it will be held in the bank for 9 years and earn an annual interest rate of 3 percent

.b. Recalculate part (a) using a compounding period that is (1) semiannual and (2) bimonthly.

c. Recalculate parts (a) and (b) using an annual interest rate of 6 percent.

d. Recalculate part (a) using a time horizon of 18 years at an annual interest rate of 3 percent.

e. What conclusions can you draw when you compare the answers in parts (c) and (d) with the answers in parts (a) and (b)?

a.What is the future value of $5,000 in a bank account for 9 years at an annual interest rate of 3 percent? $____. (Round to the nearest cent.)