A person deposits $1,000 for 5 years in an account that pays 7.2% per year compounded quarterly. What is the interest rate per period? How many compounding periods are there? How much is in the account at the end of the 5 years? $ Round to two decimal places as necessary. %

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A: Formula:

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A: Compound = Semiannually = 2Present Value = pv = $96,780Interest rate = r = 8 / 2 = 4%Time = t = 8 *…

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A: Future value (FV) = $150,000 Interest rate = 7.6% Semi annual rate (r) = 7.6%/2 = 3.80% Period = 18…

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A: P = $750r =0.1241n =364t = 4A =?

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A:

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