IE 5-1 (Static) Based on Brief Exercise 5-3 Future value; single amount and ordinary annuity [LO5-2, 5-7] =FV You place $40,000 in an investment account today that earns 5% compounded semiannually. Required: 1. How much will be in the account after (a) three years, (b) four years, or (c) five years? 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? Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. 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 Account balance at the end of: \begin{tabular}{l|l|l|} \hline a) & Year 3 & (546,305.00) \\ \hline b) & Year 4 & ####\#\#\# \\ \hline c) & Year 5 & \\ \hline \end{tabular} 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. Additional amount invested at the end of each semiannual period $1,000 Account balance at the end of: \begin{tabular}{|l|l|l|} \hline a) & Year 3 & \\ b) & Year 4 \\ c) & Year 5 & \\ \hline \end{tabular}