Question: For the following questions using table 11-1 find the missing information: a. calculate the compound amount (in $) on an investment of $5,500 at 10%
For the following questions using table 11-1 find the missing information:
a. calculate the compound amount (in $) on an investment of $5,500 at 10% interest, compounded semiannually, for 16 years. (Round your answer to the nearest cent.)
$ _____
b. compute the amount of compound interest (in $) earned in 1 year and the annual percentage yield (APY) for the investment. (Round your answers to two decimal places.)
| Principal | Nominal Rate (%) | Interest Compounded | Compound Interest Earned in 1 Year | Annual Percentage Yield (APY) |
|---|---|---|---|---|
| $6,000 | 16 | semiannually | $ | % |
c. compute the amount of compound interest (in $) earned in 1 year and the annual percentage yield (APY) for the investment. (Round your answers to two decimal places.)
| Principal | Nominal Rate (%) | Interest Compounded | Compound Interest Earned in 1 Year | Annual Percentage Yield (APY) |
|---|---|---|---|---|
| $33,000 | 12 | monthly | $ | % |
d. Maria invests $4,900, at 6% interest, compounded quarterly for one year. Use Table 11-1 to calculate the annual percentage yield (APY) for her investment (as a %). Note: "Annual percentage yield" is also known as "effective interest rate." (Round your answer to two decimal places.)
%
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