a. To determine the future amount of $20,000 is invested for 10 years, at 6 perc
ID: 2358029 • Letter: A
Question
a. To determine the future amount of $20,000 is invested for 10 years, at 6 percent interest, compounded annually. (Round your FV factor to 3 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.) Future Value ? ***********************
b. To determine the future amount of $100,000 is to be received five years from today, at 10 percent annual interest. (Round your FV factor to 3 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.) Future Value ? ***********************
c. To determine the future amount of $10,000 is invested in a fund at the end of each of the next 10 years, at 8 percent interest, compounded annually. (Round your FV factor to 3 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.)
Future Value ? ***********************
d. To determine the future amount of $50,000 is invested initially, plus $5,000 is invested annually at the end of each of the next three years, at 12 percent interest, compounded annually. (Round your FV factor to 3 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.)
Future Value ? ***********************
Explanation / Answer
a. To determine the future amount of $20,000 is invested for 10 years, at 6 percent interest, compounded annually. Future Value = 20000*1.791 = 35820 b. To determine the future amount of $100,000 is to be received five years from today, at 10 percent annual interest. Future Value = 100,000*1.611 = 161100 c. To determine the future amount of $10,000 is invested in a fund at the end of each of the next 10 years, at 8 percent interest, compounded annually. Future Value = 10000*14.487 = 144870 d. To determine the future amount of $50,000 is invested initially, plus $5,000 is invested annually at the end of each of the next three years, at 12 percent interest, compounded annually. Future Value = 50000*1.405 + 5000*3.374 = 87120
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