Answer: $12477.27
Explanation:
The formula to find the compound amount after t years (compounded semiannually) :-

Given : Principal amount : P = $ 8,000
Rate of interest : 
Time : 9 years
Now, 

The final amount in the account will be $12477.27
Answer:
Present Value = $9,417.69 (Approx)
Explanation:
Given:
Annual payment = $1,400
Total payments = 25
Rate = 8% = 0.08
Computation:
First payment [7 years from now
]
So,
Present Value = $1,400(1/1.08⁶)[1 - (1/1.08)²⁵] / 0.08
Present Value = $1,400[6.72692]
Present Value = $9,417.69 (Approx)
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