Using Table 11-1, compute the amount of compound interest (in $) earned in 1 year and the annual percentage yield (APY) for the investment. (Round your answers to twodecimal places.)Principal$32,000NominalRate (%)12InterestCompoundedmonthlyCompound InterestEarned in 1 YearAnnual PercentageYield (APY)% TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest)Periods123456789101112131415DIBDG FE1617181920212223242567891011121314151617%21.005001.010031.015081.02015 1.040601.02525Periods 9%11.0900021.1881031.2950341.4115851.5386211/%1.015001.030231.045681.082431.061361.05101 1.07728 1.104081.061521.030381.03553 1.072141.04071 1.082861.045911.093691.051141.104621.083071.088491.093931.099401.104901%1.010001.020101.030301.05640 1.115671.061681.126831.06699 1.138091.072321.149471.077681.160971.110421.115971.121551.127161.132801.172581.184301.196151.208111.220191.232391.244721.257161.269731.282431.093441.109841.126491.143391.160541.177951.195621.213551.231761.250231.268991.288021.307341.326951.3468610%11%1.100001.110001.210001.232101.331001.367631.46410 1.518071.610511.685062%1.020001.040401.061212.58043 2.853122.81266 3.138433.06580 3.452273.151763.498453.883283.34173 3.79750 4.310443.64248 4.17725 4.784591.367061.515671.38756 1.545981.408381.576901.429501.608441.450951.640613.97031 4.59497 5.310894.32763 5.05447 5.895091.12616 1.194051.14869 1.22987 1.315931.171661.19509 1.304771.26677 1.368571.21899 1.343923%4%5%1.030001.040001.050001.060901.081601.102501.12486 1.157631.092731.12551 1.16986 1.215511.159271.216651.276281.243371.384231.26824 1.425761.293611.468531.31948 1.512591.34587 1.557971.372791.400241.428251.456811.4859512%13%1.120001.130001.254401.276901.404931.442901.573521.630471.76234 1.842441.604711.872981.652851.947901.70243 2.025821.753511.806111.586871.26532 1.34010 1.41852 1.500731.40710 1.50363 1.60578 1.713821.47746 1.59385 1.71819 1.850931.42331 1.55133 1.689481.48024 1.628891.838461.999001.790851.967152.158923.47855 3.835863.89598 4.334524.36349 4.898014.88711 5.534755.47357 6.254271.53945 1.710341.601031.898301.79586 2.012201.885651.665071.731681.979931.80094 2.078936.13039 7.067336.866047.986086%7%1.060001.070001.123601.144901.19102 1.225041.26248 1.310801.33823 1.402551.860292.27877 2.78596 3.399561.91610 2.36992 2.92526 3.603541.97359 2.46472 3.07152 3.819753.22510 4.048933.38635 4.291872.032792.563302.093782.6658414%1.140001.299601.481541.688961.925412.10685 2.52695 3.025602.19112 2.65330 3.207144.226234.817905.492416.261357.137942.18287 2.54035 2.95216 3.425942.29202 2.69277 3.15882 3.700022.40662 2.85434 3.37993 3.996023.61653 4.315703.86968 4.6609615%1.150001.322501.520881.749012.011368%1.080001.166401.259711.360491.469332.10485 2.33164112.25219 2.51817 122.13293 2.40985 2.71962 132.26090 2.57853 2.93719 142.39656 2.75903 3.17217 1516171819201.77156 1.870412.43640 2.56516 2.699551.677101.97382 2.08195 2.19497 2.313061.82804 1.94872 2.07616 2.21068 2.35261 2.50227 2.66002 2.82622 3.00124 3.185471.99256 2.14359 2.30454 2.47596 2.65844 2.85259 3.05902 3.27841 3.51145 3.758862.17189 2.35795 2.55804 2.77308 3.00404 3.25195 3.51788 3.80296 4.10840 4.435452.36736 2.59374 2.83942 3.10585 3.39457 3.70722 4.04556 4.41144 4.80683 5.2338416%1.160001.345601.560901.36890 1.392401.60161 1.643031.81064 1.87389 1.938782.10034 2.19245 2.287765.03383214.140564.43040 5.43654224.74053 5.87146 235.07237 6.34118 245.42743 6.84848 254.65239 5.11726 5.623995.35025 5.936036.15279 6.885797.07571 7.987528.13706 9.26552Periods1234517%18% Periods1.17000 1.18000123456.175936.58007 7.287597.69868 8.599369.00745 10.1472410.53872 11.973756789108.13725 9.35762 10.74800 12.33030 14.129029.27646 10.76126 12.46768 14.42646 16.67225678910H2EH511121314151617

Given P =32000 n = 12 R = 12 % compound interest earned =36,058.40 - 32000 = $4,058.40

Using Table 11-1, compute the amount of compound interest (in $) earned in 1 year and the annual percentage yield (APY) for the investment. (Round your ar decimal places.) Principal $32,000 Nominal Rate (%) 12 Interest Compounded monthly Compound Interest Earned in 1 Year $ Annual Percentage Yield (APY) %

Using Table 11-1, compute the amount of compound interest (in $) earned in 1 year and the annual percentage yield (APY) for the investment. (Round your ar decimal places.) Principal $32,000 Nominal Rate (%) 12 Interest Compounded monthly Compound Interest Earned in 1 Year $ Annual Percentage Yield (APY) %

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

Using Table 11-1, compute the amount of compound interest (in $) earned in 1 year and the annual percentage yield (APY) for the investment. (Round your answers to two
decimal places.)
Principal
$32,000
Nominal
Rate (%)
12
Interest
Compounded
monthly
Compound Interest
Earned in 1 Year
Annual Percentage
Yield (APY)
%

TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest)
Periods
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
DIBDG FE
16
17
18
19
20
21
22
23
24
25
6
7
8
9
10
11
12
13
14
15
16
17
%
2
1.00500
1.01003
1.01508
1.02015 1.04060
1.02525
Periods 9%
1
1.09000
2
1.18810
3
1.29503
4
1.41158
5
1.53862
11/%
1.01500
1.03023
1.04568
1.08243
1.06136
1.05101 1.07728 1.10408
1.06152
1.03038
1.03553 1.07214
1.04071 1.08286
1.04591
1.09369
1.05114
1.10462
1.08307
1.08849
1.09393
1.09940
1.10490
1%
1.01000
1.02010
1.03030
1.05640 1.11567
1.06168
1.12683
1.06699 1.13809
1.07232
1.14947
1.07768
1.16097
1.11042
1.11597
1.12155
1.12716
1.13280
1.17258
1.18430
1.19615
1.20811
1.22019
1.23239
1.24472
1.25716
1.26973
1.28243
1.09344
1.10984
1.12649
1.14339
1.16054
1.17795
1.19562
1.21355
1.23176
1.25023
1.26899
1.28802
1.30734
1.32695
1.34686
10%
11%
1.10000
1.11000
1.21000
1.23210
1.33100
1.36763
1.46410 1.51807
1.61051
1.68506
2%
1.02000
1.04040
1.06121
2.58043 2.85312
2.81266 3.13843
3.06580 3.45227
3.15176
3.49845
3.88328
3.34173 3.79750 4.31044
3.64248 4.17725 4.78459
1.36706
1.51567
1.38756 1.54598
1.40838
1.57690
1.42950
1.60844
1.45095
1.64061
3.97031 4.59497 5.31089
4.32763 5.05447 5.89509
1.12616 1.19405
1.14869 1.22987 1.31593
1.17166
1.19509 1.30477
1.26677 1.36857
1.21899 1.34392
3%
4%
5%
1.03000
1.04000
1.05000
1.06090
1.08160
1.10250
1.12486 1.15763
1.09273
1.12551 1.16986 1.21551
1.15927
1.21665
1.27628
1.24337
1.38423
1.26824 1.42576
1.29361
1.46853
1.31948 1.51259
1.34587 1.55797
1.37279
1.40024
1.42825
1.45681
1.48595
12%
13%
1.12000
1.13000
1.25440
1.27690
1.40493
1.44290
1.57352
1.63047
1.76234 1.84244
1.60471
1.87298
1.65285
1.94790
1.70243 2.02582
1.75351
1.80611
1.58687
1.26532 1.34010 1.41852 1.50073
1.40710 1.50363 1.60578 1.71382
1.47746 1.59385 1.71819 1.85093
1.42331 1.55133 1.68948
1.48024 1.62889
1.83846
1.99900
1.79085
1.96715
2.15892
3.47855 3.83586
3.89598 4.33452
4.36349 4.89801
4.88711 5.53475
5.47357 6.25427
1.53945 1.71034
1.60103
1.89830
1.79586 2.01220
1.88565
1.66507
1.73168
1.97993
1.80094 2.07893
6.13039 7.06733
6.86604
7.98608
6%
7%
1.06000
1.07000
1.12360
1.14490
1.19102 1.22504
1.26248 1.31080
1.33823 1.40255
1.86029
2.27877 2.78596 3.39956
1.91610 2.36992 2.92526 3.60354
1.97359 2.46472 3.07152 3.81975
3.22510 4.04893
3.38635 4.29187
2.03279
2.56330
2.09378
2.66584
14%
1.14000
1.29960
1.48154
1.68896
1.92541
2.10685 2.52695 3.02560
2.19112 2.65330 3.20714
4.22623
4.81790
5.49241
6.26135
7.13794
2.18287 2.54035 2.95216 3.42594
2.29202 2.69277 3.15882 3.70002
2.40662 2.85434 3.37993 3.99602
3.61653 4.31570
3.86968 4.66096
15%
1.15000
1.32250
1.52088
1.74901
2.01136
8%
1.08000
1.16640
1.25971
1.36049
1.46933
2.10485 2.33164
11
2.25219 2.51817 12
2.13293 2.40985 2.71962 13
2.26090 2.57853 2.93719 14
2.39656 2.75903 3.17217 15
16
17
18
19
20
1.77156 1.87041
2.43640 2.56516 2.69955
1.67710
1.97382 2.08195 2.19497 2.31306
1.82804 1.94872 2.07616 2.21068 2.35261 2.50227 2.66002 2.82622 3.00124 3.18547
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
2.36736 2.59374 2.83942 3.10585 3.39457 3.70722 4.04556 4.41144 4.80683 5.23384
16%
1.16000
1.34560
1.56090
1.36890 1.39240
1.60161 1.64303
1.81064 1.87389 1.93878
2.10034 2.19245 2.28776
5.03383
21
4.14056
4.43040 5.43654
22
4.74053 5.87146 23
5.07237 6.34118 24
5.42743 6.84848 25
4.65239 5.11726 5.62399
5.35025 5.93603
6.15279 6.88579
7.07571 7.98752
8.13706 9.26552
Periods
1
2
3
4
5
17%
18% Periods
1.17000 1.18000
1
2
3
4
5
6.17593
6.58007 7.28759
7.69868 8.59936
9.00745 10.14724
10.53872 11.97375
6
7
8
9
10
8.13725 9.35762 10.74800 12.33030 14.12902
9.27646 10.76126 12.46768 14.42646 16.67225
6
7
8
9
10
H2EH5
11
12
13
14
15
16
17

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