Using the appropriate interest table, answer each of the following questions. (E

Question

Using the appropriate interest table, answer each of the following questions. (Each case is independent of the others.) (a) What is the future value of $7,910 at the end of 7 periods at 8% compounded interest? (Round answers to 0 decimal places, e.g. $458,581.) The future value $ (b) What is the present value of $7,910 due 7 periods hence, discounted at 11%? (Round answers to 0 decimal places, e.g. $458,581.) The present value $ (c) What is the future value of 16 periodic payments of $7,910 each made at the end of each period and compounded at 10%? (Round answers to 0 decimal places, e.g. $458,581.) The future value $ (d) What is the present value of $7,910 to be received at the end of each of 18 periods, discounted at 5% compound interest? (Round answers to 0 decimal places, e.g. $458,581.) The present value $

Explanation / Answer

C. FV = 7910*1+.10^16

FV = $284,362.36

D.

PV = 7910/1+.05^18 = 3286.77

I used Excel finance caculator for these so I'm pretty positive they are right.

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