Compound Interest Find the accumulated value and the amount of compound interest earned. 4) $1,200 at 5% compounded annually for 8 years 5) $2,940 at 3.2% compounded semiannually for 11 years 6) $900 at 7.5% compounded quarterly for 6 years 7) $5,000 at 4.25% compounded monthly for 5 years 8) $3,200 at 3.9% compounded monthly for 42 months 9) $450 at 9% compounded weekly for 90 weeks 10) $1,200 at 5% compounded continuously for 8 years 11) $7,000 at 2.3% compounded continuously for 10 years 12) $2,080 at 0.79% compounded continuously for 66 months Find the effective rate that corresponds to each nominal rate. 13) 4% compounded quarterly 14) 6% compounded quarterly 15) 7.25% compounded monthly 16) 5.75% compounded continuously 17) 3.9% compounded continuously Find the present value for the following scenarios. 18) Compounding quarterly at 5.5% for 9 years accumulates to $7,500 19) Compounding monthly at 7% for 16 years accumulates to $50,000 20) Compounding monthly at 0.9% for 20 years accumulates to $20,000