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Find the compound interest and future value. Round your answers to the nearest cent. Do not round intermediate steps. PrincipalRateCompoundedTime Semiannually years

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Tundexi

Answer:

Compound interest = $730

Future value = $1300

Explanation:

Note: The full question is attached as picture below

Principal = P, Interest rate = r, Number of compounds = n, Interest time = t

Compound Interest = P*(1+r/n)^nt

p = 570, r = 0.0415, n=4, t=6

Compound Interest = 570*(1+0.0415/4)^6*4

Compound Interest = 570*(1.010375)^24

Compound Interest = 570*1.28109755803

Compound Interest = 730.22561

Compound Interest = $730.23

Future value = Compound Interest + Principal

Future value = $730.23 + $570

Future value = $1300.23

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