Complete the following using compound future value (Please use only the following provided Table). (Round your final answers to the nearest dollar amount. Omit the "$" sign in your response.)

Time 3 years

Principal $2,000

Rate 12%

Compounded Semiannually

Amount ?

Interest ?

Question

Complete the following using compound future value (Please use only the following provided Table). (Round your final answers to the nearest dollar amount. Omit the "$" sign in your response.)
 
   


Time 3 years
 
Principal $2,000
 
Rate 12%
 
Compounded Semiannually
 
Amount ?
 
Interest ?

anonymous · Answer

so where is the table? the semi annual interest is 6%. Compound this 6 times
A=2000(1.06)^6=2837.04
I=2837.04-2000=837.04

anonymous · Answer

so do you always break down the percentage rate by the number of periods in a 1 year time span? ie, annually =12%,  Semi=6%, and quarterly = 3% ?