Homework Help is Here – Start Your Trial Now!
Business
Finance
Use Table 11-1 to calculate the compound amount (in $) on an investment of $5,500 at 8% interest, compounded semiannually, for 18 years. (Round your answer to the nearest cent.)

Use Table 11-1 to calculate the compound amount (in $) on an investment of $5,500 at 8% interest, compounded semiannually, for 18 years. (Round your answer to the nearest cent.)

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
See similar textbooks
icon
Related questions
Question
Use Table 11-1 to calculate the compound amount (in $) on an investment of $5,500 at 8% interest, compounded semiannually, for 18 years. (Round your answer to the nearest cent.)
Transcribed Image Text:Use Table 11-1 to calculate the compound amount (in $) on an investment of $5,500 at 8% interest, compounded semiannually, for 18 years. (Round your answer to the nearest cent.)
TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest) Periods 1% 1,% 2% 3% 4% 5% 6% 7% 8% Periods 1 1.00500 1.01000 1.01500 1.02000 1.03000 1.04000 1.05000 1.06000 1.07000 1.08000 1 2 1.01003 1.02010 1.03023 1.04040 1.06090 1.08160 1.10250 1.12360 1.14490 1.16640 3 1.01508 1.03030 1.04568 1.06121 1.09273 1.12486 1.15763 1.19102 1.22504 1.25971 3 4 1.02015 1.04060 1.06136 1.08243 1.12551 1.16986 1.21551 1.26248 1.31080 1.36049 4 5 1.02525 1.05101 1.07728 1.10408 1.15927 1.21665 1.27628 1.33823 1.40255 1.46933 6. 1.03038 1.06152 1.09344 1.12616 1.19405 1.26532 1.34010 1.41852 1.50073 1.58687 6. 7 1.03553 1.07214 1.10984 1.14869 1.22987 1.31593 1.40710 1.50363 1.60578 1.71382 7 8. 1.04071 1.08286 1.12649 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 8. 9 1.04591 1.09369 1.14339 1.19509 1.30477 1.42331 1.55133 1.68948 1.83846 1.99900 9 10 1.05114 1.10462 1.16054 1.21899 1.34392 1.48024 1.62889 1.79085 1.96715 2.15892 10 11 1.05640 1.11567 1.17795 1.24337 1.38423 1.53945 1.71034 1.89830 2.10485 2.33164 11 12 1.06168 1.12683 1.19562 1.26824 1.42576 1.60103 1.79586 2.01220 2.25219 2.51817 12 13 1.06699 1.13809 1.21355 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 2.71962 13 14 1.07232 1.14947 1.23176 1.31948 1.51259 1.73168 1.97993 2.26090 2.57853 2.93719 14 15 1.07768 1.16097 1.25023 1.34587 1.55797 1.80094 2.07893 2.39656 2.75903 3.17217 15 16 1.08307 1.17258 1.26899 1.37279 1.60471 1.87298 2.18287 2.54035 2.95216 3.42594 16 17 1.08849 1.18430 1.28802 1.40024 1.65285 1.94790 2.29202 2.69277 3.15882 3.70002 17 18 1.09393 1.19615 1.30734 1.42825 1.70243 2.02582 2.40662 2.85434 3.37993 3.99602 18 19 1.09940 1.20811 1.32695 1.45681 1.75351 2.10685 2.52695 3.02560 3.61653 4.31570 19 20 1.10490 1.22019 1.34686 1.48595 1.80611 2.19112 2.65330 3.20714 3.86968 4.66096 20 21 1.11042 1.23239 1.36706 1.51567 1.86029 2.27877 2.78596 3.39956 4.14056 5.03383 21 22 1.11597 1.24472 1.38756 1.54598 1.91610 2.36992 2.92526 3.60354 4.43040 5.43654 22 23 1.12155 1.25716 1.40838 1.57690 1.97359 2.46472 3.07152 3.81975 4.74053 5.87146 23 24 1.12716 1.26973 1.42950 1.60844 2.03279 2.56330 3.22510 4.04893 5.07237 6.34118 24 25 1.13280 1.28243 1.45095 1.64061 2.09378 2.66584 3.38635 4.29187 5.42743 6.84848 25 Periods 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% Periods 1 1.09000 1.10000 1.11000 1.12000 1.13000 1.14000 1.15000 1.16000 1.17000 1.18000 1 1.18810 1.21000 1.23210 1.25440 1.27690 1.29960 1.32250 1.34560 1.36890 1.39240 3 1.29503 1.33100 1.36763 1.40493 1.44290 1.48154 1.52088 1.56090 1.60161 1.64303 3 4 1.41158 1.46410 1.51807 1.57352 1.63047 1.68896 1.74901 1.81064 1.87389 1.93878 1.53862 1.61051 1.68506 1.76234 1.84244 1.92541 2.01136 2.10034 2.19245 2.28776 6. 1.67710 1.77156 1.87041 1.97382 2.08195 2.19497 2.31306 2.43640 2.56516 2.69955 7 1.82804 1.94872 2.07616 2.21068 2.35261 2.50227 2.66002 2.82622 3.00124 3.18547 7 1.99256 2.14359 2.30454 2.47596 2.65844 2.85259 3.05902 3.27841 3.51145 3.75886 2.17189 2.35795 2.55804 2.77308 3.00404 3.25195 3.51788 3.80296 4.10840 4.43545 10 2.36736 2.59374 2.83942 3.10585 3.39457 3.70722 4.04556 4.41144 4.80683 5.23384 10 11 2.58043 2.85312 3.15176 3.47855 3.83586 4.22623 4.65239 5.11726 5.62399 6.17593 11 12 2.81266 3.13843 3.49845 3.89598 4.33452 4.81790 5.35025 5.93603 6.58007 7.28759 12 13 3.06580 3.45227 3.88328 4.36349 4.89801 5.49241 6.15279 6.88579 7.69868 8.59936 13 14 3.34173 3.79750 4.31044 4.88711 5.53475 6.26135 7.07571 7.98752 9.00745 10.14724 14 15 3.64248 4.17725 4.78459 5.47357 6.25427 7.13794 8.13706 9.26552 10.53872 11.97375 15 16 3.97031 4.59497 5.31089 6.13039 7.06733 8.13725 9.35762 10.74800 12.33030 14.12902 16 17 4.32763 5.05447 5.89509 6.86604 7.98608 9.27646 10.76126 12.46768 14.42646 16.67225 17 18 4.71712 5.55992 6.54355 7.68997 9.02427 10.57517 12.37545 14.46251 16.87895 19.67325 18 19 5.14166 6.11591 7.26334 8.61276 10.19742 12.05569 14.23177 16.77652 19.74838 23.21444 19 20 5.60441 6.72750 8.06231 9.64629 11.52309 13.74349 16.36654 19.46076 23.10560 27.39303 20 21 6.10881 7.40025 8.94917 10.80385 13.02109 15.66758 18.82152 22.57448 27.03355 32.32378 21 22 6.65860 8.14027 9.93357 12.10031 14.71383 17.86104 21.64475 26.18640 31.62925 38.14206 22 23 7.25787 8.95430 11.02627 13.55235 16.62663 20.36158 24.89146 30.37622 37.00623 45.00763 23 24 7.91108 9.84973 12.23916 15.17863 18.78809 23.21221 28.62518 35.23642 43.29729 53.10901 24 25 8.62308 10.83471 13.58546 17.00006 21.23054 26.46192 32.91895 40.87424 50.65783 62.66863 25 The values in Table 11-1 were generated by the formula FV = (1 + i)" rounded to five decimal places, where i is the interest rate per period and n is the total number of periods.
Transcribed Image Text:TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest) Periods 1% 1,% 2% 3% 4% 5% 6% 7% 8% Periods 1 1.00500 1.01000 1.01500 1.02000 1.03000 1.04000 1.05000 1.06000 1.07000 1.08000 1 2 1.01003 1.02010 1.03023 1.04040 1.06090 1.08160 1.10250 1.12360 1.14490 1.16640 3 1.01508 1.03030 1.04568 1.06121 1.09273 1.12486 1.15763 1.19102 1.22504 1.25971 3 4 1.02015 1.04060 1.06136 1.08243 1.12551 1.16986 1.21551 1.26248 1.31080 1.36049 4 5 1.02525 1.05101 1.07728 1.10408 1.15927 1.21665 1.27628 1.33823 1.40255 1.46933 6. 1.03038 1.06152 1.09344 1.12616 1.19405 1.26532 1.34010 1.41852 1.50073 1.58687 6. 7 1.03553 1.07214 1.10984 1.14869 1.22987 1.31593 1.40710 1.50363 1.60578 1.71382 7 8. 1.04071 1.08286 1.12649 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 8. 9 1.04591 1.09369 1.14339 1.19509 1.30477 1.42331 1.55133 1.68948 1.83846 1.99900 9 10 1.05114 1.10462 1.16054 1.21899 1.34392 1.48024 1.62889 1.79085 1.96715 2.15892 10 11 1.05640 1.11567 1.17795 1.24337 1.38423 1.53945 1.71034 1.89830 2.10485 2.33164 11 12 1.06168 1.12683 1.19562 1.26824 1.42576 1.60103 1.79586 2.01220 2.25219 2.51817 12 13 1.06699 1.13809 1.21355 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 2.71962 13 14 1.07232 1.14947 1.23176 1.31948 1.51259 1.73168 1.97993 2.26090 2.57853 2.93719 14 15 1.07768 1.16097 1.25023 1.34587 1.55797 1.80094 2.07893 2.39656 2.75903 3.17217 15 16 1.08307 1.17258 1.26899 1.37279 1.60471 1.87298 2.18287 2.54035 2.95216 3.42594 16 17 1.08849 1.18430 1.28802 1.40024 1.65285 1.94790 2.29202 2.69277 3.15882 3.70002 17 18 1.09393 1.19615 1.30734 1.42825 1.70243 2.02582 2.40662 2.85434 3.37993 3.99602 18 19 1.09940 1.20811 1.32695 1.45681 1.75351 2.10685 2.52695 3.02560 3.61653 4.31570 19 20 1.10490 1.22019 1.34686 1.48595 1.80611 2.19112 2.65330 3.20714 3.86968 4.66096 20 21 1.11042 1.23239 1.36706 1.51567 1.86029 2.27877 2.78596 3.39956 4.14056 5.03383 21 22 1.11597 1.24472 1.38756 1.54598 1.91610 2.36992 2.92526 3.60354 4.43040 5.43654 22 23 1.12155 1.25716 1.40838 1.57690 1.97359 2.46472 3.07152 3.81975 4.74053 5.87146 23 24 1.12716 1.26973 1.42950 1.60844 2.03279 2.56330 3.22510 4.04893 5.07237 6.34118 24 25 1.13280 1.28243 1.45095 1.64061 2.09378 2.66584 3.38635 4.29187 5.42743 6.84848 25 Periods 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% Periods 1 1.09000 1.10000 1.11000 1.12000 1.13000 1.14000 1.15000 1.16000 1.17000 1.18000 1 1.18810 1.21000 1.23210 1.25440 1.27690 1.29960 1.32250 1.34560 1.36890 1.39240 3 1.29503 1.33100 1.36763 1.40493 1.44290 1.48154 1.52088 1.56090 1.60161 1.64303 3 4 1.41158 1.46410 1.51807 1.57352 1.63047 1.68896 1.74901 1.81064 1.87389 1.93878 1.53862 1.61051 1.68506 1.76234 1.84244 1.92541 2.01136 2.10034 2.19245 2.28776 6. 1.67710 1.77156 1.87041 1.97382 2.08195 2.19497 2.31306 2.43640 2.56516 2.69955 7 1.82804 1.94872 2.07616 2.21068 2.35261 2.50227 2.66002 2.82622 3.00124 3.18547 7 1.99256 2.14359 2.30454 2.47596 2.65844 2.85259 3.05902 3.27841 3.51145 3.75886 2.17189 2.35795 2.55804 2.77308 3.00404 3.25195 3.51788 3.80296 4.10840 4.43545 10 2.36736 2.59374 2.83942 3.10585 3.39457 3.70722 4.04556 4.41144 4.80683 5.23384 10 11 2.58043 2.85312 3.15176 3.47855 3.83586 4.22623 4.65239 5.11726 5.62399 6.17593 11 12 2.81266 3.13843 3.49845 3.89598 4.33452 4.81790 5.35025 5.93603 6.58007 7.28759 12 13 3.06580 3.45227 3.88328 4.36349 4.89801 5.49241 6.15279 6.88579 7.69868 8.59936 13 14 3.34173 3.79750 4.31044 4.88711 5.53475 6.26135 7.07571 7.98752 9.00745 10.14724 14 15 3.64248 4.17725 4.78459 5.47357 6.25427 7.13794 8.13706 9.26552 10.53872 11.97375 15 16 3.97031 4.59497 5.31089 6.13039 7.06733 8.13725 9.35762 10.74800 12.33030 14.12902 16 17 4.32763 5.05447 5.89509 6.86604 7.98608 9.27646 10.76126 12.46768 14.42646 16.67225 17 18 4.71712 5.55992 6.54355 7.68997 9.02427 10.57517 12.37545 14.46251 16.87895 19.67325 18 19 5.14166 6.11591 7.26334 8.61276 10.19742 12.05569 14.23177 16.77652 19.74838 23.21444 19 20 5.60441 6.72750 8.06231 9.64629 11.52309 13.74349 16.36654 19.46076 23.10560 27.39303 20 21 6.10881 7.40025 8.94917 10.80385 13.02109 15.66758 18.82152 22.57448 27.03355 32.32378 21 22 6.65860 8.14027 9.93357 12.10031 14.71383 17.86104 21.64475 26.18640 31.62925 38.14206 22 23 7.25787 8.95430 11.02627 13.55235 16.62663 20.36158 24.89146 30.37622 37.00623 45.00763 23 24 7.91108 9.84973 12.23916 15.17863 18.78809 23.21221 28.62518 35.23642 43.29729 53.10901 24 25 8.62308 10.83471 13.58546 17.00006 21.23054 26.46192 32.91895 40.87424 50.65783 62.66863 25 The values in Table 11-1 were generated by the formula FV = (1 + i)" rounded to five decimal places, where i is the interest rate per period and n is the total number of periods.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

17,071.63 nearest cent

 
Solution
Bartleby Expert
SEE SOLUTION
Knowledge Booster
Present Value
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Essentials Of Investments
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
FUNDAMENTALS OF CORPORATE FINANCE
FUNDAMENTALS OF CORPORATE FINANCE
Finance
ISBN:
9781260013962
Author:
BREALEY
Publisher:
RENT MCG
Financial Management: Theory & Practice
Financial Management: Theory & Practice
Finance
ISBN:
9781337909730
Author:
Brigham
Publisher:
Cengage
Foundations Of Finance
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS