Question

Time value Personal Finance Problem You have S2.100 to invest today at 9% interest compounded annually a. Find how much you will have accumulated in the account at the end of (1) 4 years, (2) 8 years, and (3) 12 years . Use your findings in part a to calculate the amount of interest earned in (1) the first 4 years (years 1 to 4), (2) the second 4 years (years 5 to 8), and (3) the third 4 years (years 9 to 12) Compare and contrast your findings in part b. Explain how the amount of interest earned changes in each succeeding 4-year period . (1) At the end of 4 years, the amount you will have accumulated is s(Round to the nearest cent) 2) At the end of 8 years, the arnount you will have accumulated is (Round to the nearest cent) 3) At the end of 12 years, the amount you will have accunulated is (Round to the nearest cent) o. (1) From your findings in part a, the amount of interest earned in the first 4 years (years 1 to 4) (Round to the nearest cent) 2) From your findings in part a, the amount of interest earned in the second 4 years (years 5 to 8) is s(Round to the nearest cent) 3) From your findings in part a, the amount of interest earned in the third 4 years (years 9 to 12) is S(Round to the nearest cent) According to the findings in part b, the amount of interest earned _ in each succeeding 4-year period due to compounding (Select from the drop-down menu) Increases decreases remains the same ter your answer in each of the answer boxe

Answer 1

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