The following investment requires table factors for periods beyond the table. Create the new table factor, rounded to five decimal places, and calculate the compound amount, rounding to the nearest cent:
Term of
Nominal
Interest
New Table
Compound
Principal
Investment
Rate
Compounded
Factor
Amount
$38,500
15 years
10%
semiannually
_________
_________
What will be an ideal response?
4.32195; $166,395.08
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