Question: In this problem, your interest is compounded semi-annually. In B6, type in your beginning balance of $1000.00 . Locate C6 and type in your interest

In this problem, your interest is compounded semi-annually. In B6, type in your beginning balance of $1000.00 . Locate C6 and type in your interest formula (not interest rate) using an interest rate of 8.00 % . Remember that interest is Principal * Rate * Time. You must start the formula with the = sign, locate the cell that has principal and multiply it times your interest rate then multiply it times the amount of time that passes between each period. Do not use the A column for time. Then type in your ending balance formula. You should have gotten $ 1040.00. What formula did you use in C6? This is all done in Excel

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