June deposited $9000 in an account that pays 5.4% compound interest per year. Find the total amount of the account afterthe interest compounded.
N=12; R=0.054/12;PV=9000; FV=PV*(1 + R)^N; print"FV =$",FV
FV =$ 9,498.21 - Monthly compound for 1 year, or 12 months.
N=2; R=0.054/2;PV=9000; FV=PV*(1 + R)^N; print"FV =$",FV
FV =$ 9,492.56 - Semi-annual compound for 1 year.