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Homework: Chapter O Homework - Math Review Save Score: 0 of 1 pt Compound Interest-1 (similar to) Find the future value and compound interest on S6,000 at 5% compounded semiannually for two years. Use the Future Value or Comp 7 of 8(7 complete) HW Score: 75%, 6 of 8 pts Question Help * nd Amount of S1 00 Table or the future value and compound interest formula. EEB Future Value or Compound Amount of $1.00 Future value (Round to the nearest cent as needed.) Enter your answer in the answer box and then click Check Answer Clear All Check Answer remaining o search
HW Score: nterest-1 (similar to) e and co mpound i r Compo Amount of Data Table Round Table Future Value or Compound Amount of $1.00 Rate per period Periods 196 1.5% 296 2.5% 3% 4% 5% 6% 8% 1.01000 1.01500 1.02000 1.02500 1.03000 1.04000 1.05000 1.06000 1.08000 2 1.02010 1.03023 1.04040 1.05063 1.06090 1.08160 1.10250 1.12360 1.16640 3 1.03030 1.04568 1.06121 1.07689 1.09273 1.12486 1.15763 1.19102 1.25971 4 1.04060 1.06136 1.08243 1.10381 1.12551 1.16986 1.21551 1.26248 1.36049 5 1.05101 1.07728 1.10408 1.13141 1.15927 1.21665 1.27628 1.33823 1.46933 Table shows future value (FV) of $1.00 compounded for N periods at R rate per period Table values can be generated using the formula FV $1(1+RN Print Done the an Check A Clear All 回 00問自el
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Answer #1

The future calue for $6000 after 2 years compunded semiannually shall be

FV = $6000 ( 1+ R) powerN

= $6000 ( 1 + 5%/2) 4

$6000 ( 1.025) power 4

= $6000 × 1.1038

= $6623 ( approx. ) Answer.

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