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  3. 4. a. compounding annually means that there i

4. a. Compounding annually means that there is one interest...

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Finance

4.
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a. Compounding annually means that there is one interest payment period per year. So, \\( n=5 \\) and \\( i=r=0.08 \\). \\[ \\begin{array}{l} F V=P V(1+i)^{n} \\\\ F V=1,000(1+0.08)^{5} \\\\ F V=1,000(1.4693280768) \\\\ F V=1469.3280768 \\end{array} \\] Therefore, rounded to the nearest cent, the final answer is \\$

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