Find the future value and compound interest on $6,000 at 8% compounded semiannually for two years. Use the Future Value or Compound Amount of $1.00 Table or the future value and compound interest formula. Table Future Value or Compound Amount of $1.00 Rate per period 3% 2.5% Periods 1% 1.5% 8% 1.01000 1.01500 1.02000 1.02500 1.03000 1.04000 1.05000 1.06000 1.08000 2% 4% 5% 6% 1 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 +R)". Future value = S |(Round to the nearest cent as needed.)
Find the future value and compound interest on $6,000 at 8% compounded semiannually for two years. Use the Future Value or Compound Amount of $1.00 Table or the future value and compound interest formula. Table Future Value or Compound Amount of $1.00 Rate per period 3% 2.5% Periods 1% 1.5% 8% 1.01000 1.01500 1.02000 1.02500 1.03000 1.04000 1.05000 1.06000 1.08000 2% 4% 5% 6% 1 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 +R)". Future value = S |(Round to the nearest cent as needed.)
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 18E
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Transcribed Image Text:Find the future value and compound interest on $6,000 at 8% compounded semiannually for two years.
Use the Future Value or Compound Amount of $1.00 Table or the future value and compound interest formula.
Table
Future Value or Compound Amount of $1.00
Rate per period
3%
2.5%
Periods 1%
1.5%
8%
1.01000 1.01500 1.02000 1.02500 1.03000 1.04000 1.05000 1.06000 1.08000
2%
4%
5%
6%
1
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 +R)".
Future value = S |(Round to the nearest cent as needed.)
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