Chapter 11.II, Problem 1RE

For the following investments, calculate the present value (principal) and the compound interest. Use Table 11-2. Round your answer to the nearest cent.

$\frac{\begin{array}{l}\text{Compound}\\ \text{Amount}\end{array}}{\text{\$6,000}}\frac{\begin{array}{l}\text{Term}\text{of}\\ \text{Investment}\end{array}}{3\text{years}}\frac{\begin{array}{l}\text{Nominal}\\ \text{Rate(\%)}\end{array}}{9}\frac{\begin{array}{l}\text{Interest}\\ \text{Compounded}\end{array}}{\text{annually}}\frac{\begin{array}{l}\text{Present}\\ \text{Value}\end{array}}{\underset{\_}{\$4,633.08}}\frac{\begin{array}{l}\text{Compound}\\ \text{Interest}\end{array}}{\underset{\_}{\$1,366.92}}$