Compute the future value of $2,000 compounded annually for 10 years at 7 percent

Question

Compute the future value of $2,000 compounded annually for 10 years at 7 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value $ b. Compute the future value of $2,000 compounded annually for 10 years at 12 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value $ c. Compute the future value of $2,000 compounded annually for 15 years at 7 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value $

Explanation / Answer

Statement showing computations Time Rate Principal Future Value Working Notes 10 7%             2,000.00                              3,934.30 2,000* (1+7/100) ^ 10 10 12%             2,000.00                              6,211.70 2,000* (1+12/100) ^ 10 15 7%             2,000.00                              5,518.06 2,000* (1+7/100) ^ 15

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