What will be the amount accumulated by each of the given present investment? (a) (a) $5,500 in 10 years at 9% compounded semiannually. (b) (b) $12,500 in 15 years at 8% compounded quarterly. (c) (c) $13,600 in seven years at 6% compounded monthly.

Giving the following information:

For each of the following investments, we need to use the following formula:

FV = PV * (1+i) ^n

(a) $5,500 in 10 years at 9% compounded semiannually.

i = 0.09/2 = 0.045

n = 10*2 = 20

FV = 5,500*1.045^20 = $13,264.43

(b) $12,500 in 15 years at 8% compounded quarterly.

i = 0.08/4 = 0.02

n = 15*4 = 60

FV = 12,500 * (1.02^60) = $41,012.88

(c) $13,600 in seven years at 6% compounded monthly.

i = 0.06/12 = 0.005

n = 7*12 = 84

FV = 13,600 * (1.005^84) = $20,677.03