Question: Complete the following using compound future value. Note: Round your answers to the nearest cent. Time: 1 2 years Principal: $ 1 6 , 4

Complete the following using compound future value.
Note: Round your answers to the nearest cent.
Time: 12 years
Principal: $16,400
Rate: 3%
Compounded: Annually
Amount: ?
Interest: ?
This is the table:
Future value interest factor of $1 per period at i% for n periods, FVIF(i,n).
Period 0.5%1.0%1.5%2.0%2.5%3.0%3.5%4.0%4.5%5.0%5.5%6.0%6.5%7.0%7.5%8.0%8.5%9.0%9.5%10.0%
11.00501.01001.01501.02001.02501.03001.03501.04001.04501.05001.05501.06001.06501.07001.07501.08001.08501.09001.09501.1000
21.01001.02011.03021.04041.05061.06091.07121.08161.09201.10251.11301.12361.13421.14491.15561.16641.17721.18811.19901.2100
31.01511.03031.04571.06121.07691.09271.10871.12491.14121.15761.17421.19101.20791.22501.24231.25.971.27731.29501.31291.3310
41.02021.04061.06141.08241.10381.12551.14751.16991.19251.21551.23881.26251.28651.31081.33551.36051.38591.41161.43771.4641
51.02531.05101.07731.10411.13141.15931.18771.21671.24621.27631.30701.33821.37011.40261.43561.46931.50371.53861.57421.6105
61.03041.06151.09341.12621.15971.19411.22931.26531.30231.34011.37881.41851.45911.50071.54331.58691.63151.67711.72381.7716
71.03551.07211.10981.14871.18871.22991.27231.31591.36091.40711.45471.50361.55401.60581.65901.71381.77011.82801.88761.9487
81.04071.08291.12651.17171.21841.26681.31681.36861.42211.47751.53471.59381.65501.71821.78351.85.091.92061.99262.06692.1436
91.04591.09371.14341.19511.24891.30481.36291.42331.48611.55131.61911.68951.76261.83851.91721.99902.08392.17192.26322.3579
101.05111.10461.16051.21901.28011.34391.41061.48021.55301.62891.70811.79081.87711.96722.06102.15892.26102.36742.47822.5937
111.05641.11571.17791.24341.31211.38421.46001.53951.62291.71031.80211.89831.99922.10492.21562.33162.45322.58042.71372.8531
121.06171.12681.19561.268

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