Please answer
. You place $40,000 in an investment account today that earns 5% compounded semiannually. How much will be in the account after (a) three years, (b) four years, or (c) five years? Formulas should include the =FV function and return a POSITIVE value. Initial investment $40,000 Additional amount invested at the end of each semiannual period $0 Interest rate 5% Compounded semiannually 2 Compounding periods per year
2. If, in addition to the $40,000 original investment, you invest an additional $1,000 at the end of each semiannual period, how much will be in the account after (a) three years, (b) four years, or (c) five years? Formulas should include the =FV function and return a POSITIVE value.
Please use excel fuctions.
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