Amishi deposited $$ \$ 800 $$, at the end of each six months for 18 years in a savings account. If the account paid $$ 8 \% $$ interest, compounded semiannually, use the appropriate formula to find the future value of her account. (Round your answer to the nearest cent.) Ln $$ 9, \operatorname{Col} 1 $$

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Let

$$
R = 800,\quad r = \frac{0.08}{2} = 0.04,\quad n = 18 \times 2 = 36.
$$

The future value of an annuity with deposits at the end of each period is given by

$$
FV = R \frac{(1 + r)^n - 1}{r}.
$$

Substitute the values:

$$
FV = 800 \frac{(1.04)^{36} - 1}{0.04}.
$$

Step 1. Compute $$(1.04)^{36}$$.

Step 2. Subtract 1 from the result.

Step 3. Divide by $$0.04$$.

Step 4. Multiply by 800.

Using a calculator, we find

$$
(1.04)^{36} \approx 4.10268.
$$

Then

$$
\frac{(1.04)^{36} - 1}{0.04} \approx \frac{4.10268 - 1}{0.04} \approx \frac{3.10268}{0.04} \approx 77.567.
$$

Finally,

$$
FV \approx 800 \times 77.567 \approx 62053.60.
$$

Thus, the future value of her account is approximately \$62,053.60.
The future value of Amishi's account is approximately \$62,053.60.

Amishi deposited , at the end of each six months for 18 years in a
savings account. If the account paid interest, compounded semiannually,
use the appropriate formula to find the future value of her account.
(Round your answer to the nearest cent.)
Ln

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Amishi deposited , at the end of each six months for 18 years in a savings account. If the account paid interest, compounded semiannually, use the appropriate formula to find the future value of her account. (Round your answer to the nearest cent.) Ln