Yolanda deposited $$ \$ 1,400 $$ at the end of each six months for 2 years in a savings account. If the account paid $$ 8 \% $$ interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.)

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Let $$ P = 1400 $$ be the deposit made at the end of each six-month period, $$ i = \frac{8\%}{2} = 0.04 $$ be the interest rate per period, and $$ n = 4 $$ be the total number of deposits (since there are 2 years with 2 periods per year).

The future value $$ FV $$ of an ordinary annuity is given by

$$
FV = P \times \frac{(1+i)^n - 1}{i}
$$

Substitute the values:

$$
FV = 1400 \times \frac{(1.04)^4 - 1}{0.04}
$$

Calculate $$ (1.04)^4 $$:

$$
(1.04)^4 \approx 1.16985856
$$

Then,

$$
(1.04)^4 - 1 \approx 1.16985856 - 1 = 0.16985856
$$

Now divide by $$ i $$:

$$
\frac{0.16985856}{0.04} \approx 4.246464
$$

Finally, multiply by $$ P $$:

$$
FV \approx 1400 \times 4.246464 \approx 5945.05
$$

Thus, the future value of Yolanda's account is approximately $$ \$5945.05 $$.
The future value of Yolanda's account is approximately \$5,945.05.

Yolanda deposited at the end of each six months for 2 years in a
savings account. If the account paid interest, compounded semiannually,
use Table 12-1 to find the future value of her account.
(Round your answer to the nearest cent.)

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Yolanda deposited at the end of each six months for 2 years in a savings account. If the account paid interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.)