1. Find the future valu A = P(1 + rt), P = Principal, r-rate.. t e of a deposit

Question

1. Find the future valu A = P(1 + rt), P = Principal, r-rate.. t e of a deposit of $1500 at 2% simple interest for 4 years. term in years (5 pts.) Find the future value of a deposit of $5,000 at 4% for 3 years occurs 2. when compounding a) quarterly b) monthly daily A PA Pert, (15 pts.) d) continuously number of conversions per year, t = term in years Pa Principal, n Use the add-on method of calculating interest to find the total interest and monthly payment for a loan of $3200 to be paid off in 2 years at 4.5% interest. 3. A = P(1 + rt), 1-Prt, P-Principal, r = rate.. t-term in years, I = Interest R = n, R = monthly payment, n = number of payments. (10 pts.) Bonus: (5 pts.) :20

Explanation / Answer

A=P(1+rt)

=1500(1+0.02×4)

=I500×1.08

=1620

Therefore the future value calculated is $1620

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