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question Present Value Annual Rate Compounded Time Frame Future Value Interest Earned
a.) $500 4 1/2

Semi-Annually

2 years ? ?
b.) ? 5 quarterly 6 years 1616.83 ?
c.) $1250 ? monthly 16 months $1381.02 ?
d.) $875 10.5% Daily ? $2025 ?
             
             
Guest Oct 2, 2017
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a)  FV=$546.54            Interest earned =$546.54 - $500 =$46.54

 

b) PV = $1,200             Interest earned =$1,616.83 - $1,200 =$416.83

 

c) Interest rate =7.5% compounded monthly       Interest earned =$1,381.02 - $1,250 =$131.02

 

d)  Timeframe =2,917.29 days, 0r =~97 1/4 months, or =~8 years. Int. earned =$2,025 - $875=$1,150

Guest Oct 2, 2017

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