Question: Homework for 14.1 - Compound Interest 1. Find the compound amount (Maturity Value) if $8500 is compounded at 6% for 4.5 years. 2. How much

Homework for 14.1 - Compound Interest 1. Find the compound amount (Maturity Value) if $8500 is compounded at 6% for 4.5 years. 2. How much interest was earned in problem 1 ? 3. What is the compound amount (MV) on $8762.72 compounded monthly at 12% for 4 years? 4. Find the amount of interest earned on $23,000 compounded quarterly at 7.42% for 40 years. 5. Find the effective interest rate to the nearest hundredth if the nominal interest rate is 10% compounded quarterly. 6. Kayla deposited $8000 in a CD (Certificate of Deposit) paying 5% compounded semiannually. What is the Maturity Value of the CD

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