a. Compute the future value of $1,000 compounded annually for 20 years at 8 perc

Question

a. Compute the future value of $1,000 compounded annually for 20 years at 8 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

b. Compute the future value of $1,000 compounded annually for 15 years at 11 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

c. Compute the future value of $1,000 compounded annually for 25 years at 8 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Explanation / Answer

Future Value = Present value (1+R)^N

A) Future Value = 1000(1+0.08)^20 i.e 4660.96

B) Future Value = 1000(1+0.11)^15 i.e 4784.59

C) Future Value = 1000(1+0.08)^25 i.e 6848.48

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.