1. You place $40,000 in an investment account today that earns 5% compounded semiannually. How...
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1. You place $40,000 in an investment account today that earns 5% compounded semiannually. How much will be in the account after (a) three years, (b) four years, or (c) five years? Formulas should include the =FV function and return a POSITIVE value. Initial investment Additional amount invested at the end of each semiannual period Interest rate Compounded semiannually \begin{tabular}{|r|} \hline 440,000 \\ \hline$0 \\ \hline 5% \\ \hline \end{tabular} Compounding periods 2. If, in addition to the $40,000 original investment, you invest an additional $1,000 at the end of each semiannual period, how much will be in the account after (a) three years, (b) four years, or (c) five years? Formulas should include the =FV function and return a POSITIVE value. \begin{tabular}{lr|} Additional amount invested at the end of each semiannual period & $1,000 \end{tabular}
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