If $20,000 is invested at an interest rate of 2% per year, compounded semiannually, find the value of the investment after the given number of years. (Round your answers to the nearest cent.) (a) 4 years (b) 8 years (c) 12 years

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A: (a) For compounded quarterly, P = $5000 r = 6.4% = 0.064 n = 4 FV = $7500 Formula: FV=P1+rnnt By…

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A: Given; P=3000 r=4.75% n=4.

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A: Here, FV=21,000rate=6%=0.06time=12 Quarterly rate is to be calculated. So, n=4.

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Q: If $20,000 is invested at an interest rate of 2% per year, compounded semiannually, find the value…

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Q: Calculate, to the nearest cent, the present value of an investment that will be worth $1,000 at the…

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A: Topic-compound interest

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A: Topic- compound interest

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A: Given,

Q: Calculate, to the nearest cent, the present value of an investment that will be worth $1,000 at the…

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Q: years

A: Compounded quarterly, i.e. 4 times every year,    Investment  =  $1400  Rate  =  3.75%  =  0.0375…

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Q: quarterly

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